Two more current Macau gaming operators, Sands China Ltd and Melco Resorts and Entertainment Ltd, have submitted their bids to the Macau government for new gaming concessions, as the public tender closes in the evening today (Wednesday).
According to local newspaper Macau Daily News, Sands China submitted its tender this morning under the name of its subsidiary that holds the present gaming rights, Venetian Macau, SA.
Melco Resorts & Entertainment also handed in its bid this morning under the name of its subsidiary Melco Resorts (Macau ) S.A., and Lawrence Ho Yau Lung, chairman and CEO of the operator, was present in the process, the report said.
Melco Resorts later issued a statement indicating that it had submitted its detailed proposal in relation to the public tender for new gaming concessions.
“Our proposal reinforces our commitment to Macau and the further diversification of its economy. We look forward to playing a leadership role in partnering with the Macau government to execute on the government’s vision”, Lawrence Ho said, as quoted in the same statement.
Sands China has also issued a press release announcing the submission of the group’s application for a new 10-year gaming concession i
“No one has been a bigger believer in Macau’s long-term success as a leisure and business tourist destination than we have. Investments in our world-class assets, our team members and the local community are a testament to our overall commitment to Macao and this tender submission reiterates our longstanding strategy of continuous investment in Macao,” said Las Vegas Sands’ and Sands China’s Chairman and Chief Executive Officer Robert G. Goldstein, as quoted in the same press release.
The Macau government launched in late July a public tender for up to six 10-year gaming concessions that begin at the start of 2023, as the city’s current six gaming concessions and sub-concessions will expire by the end of this year.
Any interested parties can submit their bids by 5:45 pm today, including their proposals, relevant documents, and a deposit of at least MOP10 million (US$1.25 million).
Wynn Macau Ltd submitted its bid for a new concession yesterday, the first company among the current six operators to do so.
Analysts expect all the current six gaming operators in the city will bid for the new concessions with little competition from other parties.
According to the government’s requirements for this public tender, bidders have to detail in their bids how they will attract overseas gamblers and tourists for Macau, develop non-gaming investments, and undertake corporate social responsibilities among others.