Macau Government Confirms Intention To Launch Consultation On License Re-Tender In 2H21

Macau’s Secretary for Economy and Finance, Lei Wai Nong, has confirmed the government’s intention to launch the re-tendering process for gaming concessions in the second half of 2021.

While the government has kept largely silent on details around the re-tendering of Macau gaming licenses, Lei told media during a government press conference on Monday that the process remains on schedule ahead of its June 2022 deadline, when the concessions of all six gaming concessionaires are due to expire.

“The gaming industry is related to Macau’s future and welfare, and the re-tendering of gaming licenses is being prepared accordingly,” he said. “The public consultation will start in the second half of 2021.”

The government has previously promised to launch its public consultation on proposed amendments to Macau’s gaming law – which are deemed necessary for the implementation of any meaningful changes to the city’s gaming license criteria – before the end of the year. However, as reported by Inside Asian Gaming, industry experts believe any such amendments will likely be delayed until after the legislative elections on 12 September.

In the meantime, Lei expressed confidence in Macau’s recovery trajectory, revealing that daily visitor arrivals reached 31,000 over the weekend – enough to hold out hope of exceeding the government’s 2021 GGR estimate of MOP$130 billion (versus 2019 GGR of MOP$292.46 billion and 2020 GGR of MOP$60.44 billion).

“Our GGR has kept rising upwards after the resumption of the Individual Visit Scheme (IVS), and the mass market is the main source,” Lei said. “We hope we can see more improvement in the coming quarters and that [source of tourists will change] after vaccination [is complete].”

(Photo: pixabay)

bitcoin
Bitcoin (BTC) $ 56,498.00 1.39%
ethereum
Ethereum (ETH) $ 4,413.56 1.93%
binance-coin
Binance Coin (BNB) $ 610.33 0.24%
tether
Tether (USDT) $ 0.997216 0.27%
solana
Solana (SOL) $ 200.76 1.56%
cardano
Cardano (ADA) $ 1.56 1.30%
xrp
XRP (XRP) $ 0.974885 0.12%
usd-coin
USD Coin (USDC) $ 0.995081 0.31%
polkadot
Polkadot (DOT) $ 35.64 1.15%
dogecoin
Dogecoin (DOGE) $ 0.216185 5.09%
S&P 500  ^GSPC 
$4,655.27  $60.65  (1.32%)
Dow Jones Industrial Average  ^DJI 
$35,135.94  $236.60  (0.68%)
NASDAQ Composite  ^IXIC 
$15,782.83  $291.18  (1.88%)
Russell 2000  ^RUT 
$2,241.98  $3.96  (-0.18%)
Crude Oil Jan 22  F*CL.NYM 
$68.18  $1.77  (-2.53%)
   
$0.0000  $0.0000  (0.00%)