Macau Concessionaires to Sign Ten-Year Extension on Friday

The Macau SAR government is preparing to sign the new 10-year gaming contracts extension with the city’s six incumbent concessionaires, Inside Asian Gaming reported. The signage is expected to take place on Friday, and it is the dawn of a new era for the regulated gambling sector in the Special Administrative Region. The next ten years will be a litmus test for the administrative region which is shifting away from gambling as one of its mainstays, albeit not completely.

New Gambling Concessionaires Set to Sign on Friday

The renewed licenses come with many strings attached, most of which have to do with the six concessionaires investing heavily in non-gaming and gambling tourism experiences, including events that can attract travelers who are not keen on gambling. As to the type of crowd, concessionaires should work on bringing in, there should be more non-Chinese visitors when it comes to gambling.

Furthermore, concessionaires are asked to create separate gaming floors for foreigners and Chinese visitors and report both areas’ performances duly. Many have seen in this an uncouth attempt to overregulate gambling in the SAR, which is likely to result in further depletion of overseas visitors who may be put off by this form of segregation.

The incumbents, to wit Venetian Macau Wynn Resorts, Melco Resorts, MGM Grand, Galaxy Casino, and SJM Resorts have all agreed to the new terms and vowed to amp up their efforts when it comes to diversifying the SAR’s tourist industry. All concessionaires will need to ensure that they increase their share capital to MOP5 billion.

The government is also set to reveal the remaining list of satellite casinos with the signing of the six official concessionaires. Sands China and SJM Resorts both had to restructure their capitals to meet the new gaming regulations issued by the local government.