Macau's government and Galaxy Entertainment Group signed a notarized contract amendment on 23 June 2022 extending the company's casino concession to 31 December 2022, according to the Gaming Inspection and Coordination Bureau1. The amendment modifies the concession contract signed in 2002 and last amended later that year1.
The amendment names four locations where Galaxy may operate casino gaming: StarWorld Casino on Avenida da Amizade, Galaxy Macau in Cotai at Estrada da Baía de Nossa Senhora da Esperança, Broadway Casino on Avenida Marginal Flor de Lótus in Cotai, and Waldo Casino on Avenida da Amizade1. Three of those, StarWorld, Galaxy Macau and Broadway, are listed as casinos that must transfer to the Macau SAR free of charge and without encumbrance when the concession is revoked, under Article 40 of Law 16/2001 and Article 43 of the contract1.
Under the amendment, Galaxy must provide an independent first demand bank guarantee of not less than MOP 1.63 billion to secure labor debts after the contract expires1. Macau may require a higher amount based on the company's actual number of employees, and the guarantee can only be canceled with Macau's permission, with all costs borne by Galaxy1. Galaxy must also pay Macau MOP 47 million as consideration for the extension, and must fulfill the new guarantee obligation within three months of signing1.
The contract states that on 31 December 2022, casinos and gaming equipment, including equipment located outside casinos, transfer to the granting entity free of charge and automatically, unless the concession is revoked before that date1. Galaxy must ensure the property is in good condition and free of encumbrances, and must sign documents designated by the government to hand it over1.
"本批給的期限延長至二零二二年十二月三十一日"
What it means for players
The amendment keeps Galaxy's four Macau casinos operating under the existing concession until the end of 2022, so players at StarWorld, Galaxy Macau, Broadway and Waldo face no immediate change to access or operations from this contract alone1. The listed venues are the only ones Galaxy is authorized to operate under the amended contract1. The contract does not address player funds, deposits or outstanding chips, and no such protections are mentioned in the amendment1. Whether the concession is renewed or replaced after 31 December 2022 has not been reported in this document1.
What happens next
Galaxy must pay the MOP 47 million extension fee on signing and satisfy the bank guarantee requirement within three months of the signing date1. The amendment extends the concession term through 31 December 2022, when it ends and ownership of the casinos and gaming equipment passes to the Macau SAR, unless the concession is revoked earlier1.
Sources1 sources
- 澳門特別行政區 政府博彩監察協調局, dicj.gov.mo
