COVID-19 WON’T DELAY MACAU’S 2022 GAMING TENDER
The Secretary for Economy and Finance has confirmed the process will go ahead on schedule.
The Secretary for Economy and Finance, Lei Wai Nong, said on Thursday that Macau has no plans to delay its public tender for gaming concessions in 2022.
The six current concessions and sub-concessions held by MGM China, Sands China, Wynn Macau, SJM Holdings, Melco Resorts and Galaxy Entertainment Group are all set to expire in 2022. Some expected the process to be delayed owing to the disruption and huge losses casinos have seen this year.
Speaking to MNA during an event to celebrate the 71st anniversary of the founding of the People’s Republic of China, Secretary Lei confirmed that the tender will go ahead in 2022, and also that Macau’s revised gaming law will be submitted to the Legislative Assembly next year.
He said: “We are already in the preparation stage and we have to consider many technical issues. The circumstances during the gaming market liberalisation in 2002 and now are very different.”
Some analysts believe the loss in tax revenues due to the pandemic this year may lead Macau to increase licence fees for the 2022 tender.