The city’s six gaming operators have issued statements on Thursday greeting the extension of their concessions and sub-concessions until December 31 and saying they are looking forward to the upcoming public tender process for the new gaming concessions.
The Government and representatives of the “Big Six” inked the extension documents on Thursday afternoon at the Government Headquarters.
First, Chief executive Ho Iat Seng and representatives from the three concession holders – SJM Resorts S.A., Wynn Resorts (Macau) S.A. and Galaxy Casino, S.A. – signed the contracts to amend the concession terms for the operation of games of chance in casinos.
Then the three concessionaires granted the same extension in their contracts with their respective sub-concessionaires: MGM Grand Paradise, S.A., Melco Resorts (Macau), S.A. and Venetian Macau, S.A
Shortly after the six companies welcomed the expected move.
The Chairman of the Board of Directors of SJM Resorts, Daisy Ho, said SJM welcomes the concession extension and the company is “moving ahead on all fronts preparing to participate in the tender for the succeeding concession, and we eagerly look forward to continuing to contribute to the development of Macau in the years to come,” as quoted in a statement.
Another concessionaire, Wynn Resorts (Macau), welcomed the extension and thanked the Government, saying they believe “thisextension will enable it to make continued contributions to the future development of Macau and the local community”. Wynn is now looking forward to the “announcement of the requirements and details of the public tender process”.
Galaxy Entertainment Group (GEG) issued statement pledging “support to the SAR Government’s policy directions, and contribute and propel the sustainable and healthy development of Macau’s gaming industry,” adding that it is “ready to participate in the tendering process for the new gaming concessions.”
GEG Chairman Lui Che Woo states that the operator supports the SAR Government’s efforts to stabilize the economy” as well as to “usher in diversified and sustainable development”.
In its stament Galaxy also addressed the fate of their staff, which previously worked at the two satellite casinos operating under their concession, which closed their doors, located at President Hotel and Rio Hotel. “GEG will reallocate its team members from the Rio Casino and the President Casino to its other casinos, while maintaining all of their employment terms.”
Sands China (parent company of subconcessionaire Venetian Macau, S.A.) also welcomed the extension and said the company “will continue to take the lead in assisting in the steady recovery of Macau’s tourism and gaming industry by actively promoting moderate economic diversification and securing employment opportunities for Macau locals as part of the company’s corporate social responsibility efforts.”
The company, which operates as a subconcession of Galaxy, “will proceed to submit its bid for a gaming concession in accordance with the timetable set by the SAR government.”
Another subconcessionaire, Melco, said it will “continue to assist the SAR government in promoting economic diversification to further strengthen Macau’s position as a world center of tourism and leisure and support the local community.”
The company, a subconcession of Wynn, also says it “looks forward to participating in the forthcoming public tender for the award of a gaming concession.”
In its statement, Melco Resorts & Entertainment also reveals that its only satellite casino, Grand Dragon Casino, in Taipa, will continue beyond June 27.
MGM, a sub-concession of SJM, said it is “pleased with the extension”, adding that it will make every effort to obtain the new gaming concession in the upcoming public tender”, while continuing to fully support the Macau SAR government in safeguarding national security for a healthy and orderly development of the gaming industry and to contribute to the promotion of economic diversification.”
All six casino operators have issued statements earlier this week supporting the final approval by the Legislative Assembly of the gaming law amendment bill.