Seven applications have been received for the six available casino permits in Macau, as the world’s largest gambling center undergoes a significant restructuring. A committee in the Chinese special administrative region responsible for overseeing the process is currently reviewing the proposals to determine which entities will be awarded the sought-after licenses.
By the deadline last Wednesday, all six incumbent operators—SJM Holdings, Galaxy Entertainment, Wynn Macau, MGM China, Sands China, and Melco Resorts—had submitted their bids. They were joined by GMM, a subsidiary of the Malaysian conglomerate Genting, signaling the company’s initial venture into the Macau casino market.
Although GMM’s application was accepted provisionally, the committee has not revealed the specific actions the company must take to obtain final authorization.
The new permits are scheduled to become effective on January 1, 2023, and will remain valid for a decade, with a potential three-year extension in exceptional circumstances. It is worth noting that the updated gaming regulations in Macau abolish the previous framework of subconcessions.
During the month of July, Macau’s administration formed a group of nine individuals to supervise the process of granting fresh gaming permits. This influential group comprises prominent figures within Macau’s governing body, such as the heads of Administration and Justice, Economy and Finance, and Social Affairs and Culture.
Although no specific date has been determined for concluding the examination of the applications, there’s considerable expectation regarding the distribution of the new permits, projected to occur before the close of 2022.
