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GMM's application was seen as a surprise to many executives and analysts, with some saying it posed extra uncertainty for local operators.
Bid an opportunity to expand business, says Genting
All companies submitted their bids in person via two large stacks of paper files, transported by trolleys, to the government on Wednesday, according to footage from public broadcaster TDM. They had to pay HK$10 million to apply.
Analysts expect the results to come by end November or early December.
Macau's top officials, including the city's Economy and Finance secretary Lei Wai Nong and secretary for Administration and Justice Andre Cheong, attended the opening together with top executives from Macau casinos Las Vegas Sands, Macau unit Sands China, Wynn Macau and MGM China.
HONG KONG: Macau's government opened bids today from seven companies, including a wildcard from Genting, for licences to operate casinos in the world's biggest gambling hub, kicking off a closely 世界杯竞猜下注app watched battle for six available slots.
Genting would have been encouraged to apply and would be a good fit given that they are the only operator of applicants with a strong background in theme parks, said Ben Lee, founder of Macau gaming consultancy IGamiX.
All six incumbent Macau players, which also include Galaxy Entertainment, Melco Resorts and SJM Holding, submitted bids ahead of a deadline on Wednesday together with GMM Limited, a holding company of Genting Group chairman Lim Kok Thay, which does not operate casinos in Macau.
“There is a chance they can topple one of the incumbents. They (Genting) think so, too, otherwise th 世界杯下注app ey wouldn't have laid out a HK$10 million (RM5.78 million) buy in bet.”
Genting Malaysia confirmed its indirect subsidiary GMM submitted a bid to the Macau government in a statement to the Malaysian stock exchange on Sept 15.
Macau's new casino licences are expected to begin in 2023 and are crucial for the six incumbents to keep operating their multi-billion dollar properties. They have collectively invested some US$40 billion in Macau since casinos were liberalised more than 20 years ago.
Genting applied for a Macau licence more than two decades ago but was not successful. Since 2020 it has begun construction on a hotel in the south of Macau's main peninsula, which is slated to open later this year.
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The sector has been reeling since the start of the Covid-19 pandemic, with revenues sliding 70% in 2021 to US$10.8 billion from US$36 billion in 2019.
The number of awarded licences will not change from six, Justice secretary Cheong said ahead of the bid opening. The government will review the proposals and negotiate with bidders before announcing the winners before the end of the year, he said.
The bidding comes as Macau casinos have been slammed by ongoing Covid curbs and travel restrictions. Authorities have also rigorously tightened control over gambling operations in the former Portuguese colony via new legislation.
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Genting will still be able to operate its hotel resort even if it does not win a new casino licence, according to Macau laws.
Genting operates casinos in Singapore, Malaysia, the US and Britain and has extensive non-gaming operations – a key priority for th 世界杯游戏下注app e Macau government. It has also made a series of investments in China, including a prime ski resort which hosted the 2022 Beijing Winter Olympic games.
The move is an opportunity to “expand its business in the leisure and hospitality sector, diversify its geographical footprint and participate in the recovery prospects” in Macau, it said.
For the bids, companies must show “special consideration to develop 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”, according to a statement on the government's website. |
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发表于 2022-9-19 15:46:09
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