Macau's six incumbent casino operators, joined by Malaysian newcomer Genting, submitted their license bid documents in September 2022, as the territory's existing concessions approached expiry at the end of that year1. The government announced its decision in late November 2022, awarding new 10-year licenses to the six existing operators. Genting's bid did not succeed1.
The licenses began in 2023 and run to the end of 20321. The government required duplicate paper submissions even though each operator's documents ran to tens of thousands of pages. One company's submission was described as the size of two refrigerators placed side by side, while another's bundles were too large to fit through the gaming regulator's doors1.
The new agreements formalized tighter government control over the operators. Gaming taxes rose from 39 percent to 40 percent, a rate the article describes as almost six times higher than the 6.75 percent levied in Las Vegas1. The license period was cut from twenty years to ten, with assessments every three years. Macau's chief executive gained the power to revoke a license in the event of a threat to national security, and operators must seek approval before expanding to new jurisdictions or issuing dividends to shareholders1.
"Most remarkably, the gaming companies were now required to spend on non-gaming facilities and infrastructure, from outdoor recreation areas to cultural venues and sporting events."
Collectively the six concessionaires pledged to spend at least 108.7 billion patacas (US$13.5 billion) on non-gaming projects over the course of their licenses. If Macau's total annual gaming revenues reach 180 billion patacas just once in the first five years, each operator's non-gaming spending would have to rise by another 20 percent, taking the combined figure to 130 billion patacas (US$16.2 billion)1.
The government also adjusted each operator's permitted gaming tables1:
| Operator | Change in tables |
|---|---|
| MGM | 550 to 750, up 36 percent |
| Sands | Kept 1,680 |
| Galaxy | Lost 7 percent, due to two satellite casino closures |
| Wynn | 670 to 570 |
| Melco | Lost 200 of 950 |
| SJM | 2,000 to 1,250, down 38 percent |
SJM's reduction was partly due to the permanent closure of 10 satellite casinos1.
What it means for players
The license terms run to the end of 2032, so the operators running Macau's casinos are the same six names that held concessions before the renewal1. Genting, which had been positioned as a possible new entrant, is not among them1. The table reallocation changed the floor space each operator can devote to gaming, with MGM gaining tables and SJM, Melco, Wynn and Galaxy losing them1. The article describes the process behind those changes as opaque1. The higher 40 percent gaming tax applies to operators, not to players directly, and no change to player-facing rules, entry requirements or taxes on winnings is reported in the source1.
What happens next
The licenses took effect in 2023 and expire at the end of 2032, with assessments held every three years1. The source states that if annual gaming revenues hit 180 billion patacas once within the first five years, the non-gaming spending commitment rises by 20 percent to a combined 130 billion patacas1. The government's own expectation for 2024 was 216 billion patacas (US$26.8 billion), 20 percent above that threshold1. No further licensing rounds or application dates have been reported.
