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.
