Open tender mulled for gaming licensesBusiness | Staff reporter 28 Nov 2018
Macau's Secretary for Economy and Finance Lionel Leong Vai-tac said the government is inclined to grant gaming concessions by open tender, in the run-up to the expiration of the city's three gaming concessions and three sub-concessions.
The city's six gaming operators are SJM, Wynn, Galaxy, Venetian, MGM and Melco. While SJM, Wynn and Galaxy are concessionaires, the Venetian, MGM and Melco are sub-concessionaires.
The SJM concession and its sub-concession MGM will expire in 2020, while the others will expire in 2022, according to Macau News.
Leong made the remarks in a Legislative Council meeting on Monday, on the first day of a two-day Q&A session about his portfolio's policy guidelines for next year.
According to a 2001 law regulating the city's gaming industry, a maximum of three gaming concessions were to be granted. The government announced the results of the gaming concession bidding process and granted concessions to SJM, Wynn and Galaxy in early 2002. In late 2002, the government allowed Galaxy to set up a sub-concession relationship with the Venetian - by amending Galaxy's concession contract.
Following the issue of the first sub-concession, SJM and Wynn signed their own sub-concession deals in 2005 and 2006 respectively, SJM with MGM, and Wynn with Melco.