Hong Kong: Macau’s government said on Thursday that global gaming operators could submit bids for new licenses from July 29 to September 14, starting a much-awaited process to secure a spot in the world’s biggest casino hub.
The six current operators’ licenses are Sands China (1928. HK), Wynn Macau (1128. HK), MGM China (2282. HK), Galaxy Entertainment (0027. HK), and SJM Holdings (0880. HK), and Melco. Resorts expire at the end of the year.
They will have to bid for new licenses to remain in Chinese administrative territory, and new players want to work.
The rescheduling comes amid the worst outbreak of COVID-19 in Macau, which caused casinos to close for 12 days in July and with no business when they reopened for employees to return to work Because the restrictions are being lifted only gradually.
According to a statement on its website, the government said the companies would have to guarantee at least 10 million Patakas ($1.24 million) and submit the required qualifying documents.
When bidding, “special consideration should be given to developing foreign tourist markets, experience in operating casino games, investment in gaming and non-gaming projects for Macau’s benefit, plans to manage the casino, plans to monitor and prevent illegal activities and social responsibilities.”
Macau’s government set up a committee to vet bidders for the new licenses, with a decision expected in the fourth quarter.