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Gaming concessions must rebid said Lionel Leong

Secretary for Economy and Finance Lionel Leong Vai Tac said late last week that the government would not simply renew the city’s current gaming concessions and sub-concessions when they expire, but that it would instead launch a new bidding process.

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UPDATED: 22 Dec 2023, 5:45 am

Secretary for Economy and Finance Lionel Leong Vai Tac said late last week that the government would not simply renew the city’s current gaming concessions and sub-concessions when they expire, but that it would instead launch a new bidding process.

Leong made the remarks while speaking to reporters on Friday on the sidelines of a public event at Macau Tower.

Macau’s three gaming concessions and three sub-concessions will expire between 2020 and 2022.

Leong reaffirmed that once the gaming concessions and sub-concessions expire, a bidding process would be held rather than the government simply renewing them.

According to the law regulating the gaming sector which came into force in 2001, a gaming concession cannot exceed 20 years.

According to the law, the chief executive is allowed to extend gaming concessions for a maximum of five years under special circumstances.

The city’s six gaming operators are SJM, Galaxy, Venetian, Wynn, Melco and MGM.

 

UPDATED: 22 Dec 2023, 5:45 am

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