Macau's government provisionally awarded six casino concessions on 26 November 2022 to six of the companies bidding, among them Venetian Macau, S.A. (VML), according to the company's own annual report filed with the city's gambling regulator1. The awards were subject to conditions, including a MOP 1,000,000,000 bank guarantee to secure VML's legal, contractual and other obligations, including labor obligations1. VML said it met all those conditions by 9 December 20221.
The provisional stage followed an extension of VML's existing sub-concession.
The provisional stage followed an extension of VML's existing sub-concession1.
The same day, VML signed a handover record granting it the right to operate the gambling assets during the concession, for an annual return of MOP 750 per square meter in the first three years and MOP 2,500 per square meter in the following seven years, adjusted in certain years by Macau's average price index1.
"於二零二二年十一月二十六日，澳門政府向其中六家參與競投公司（包括VML）臨時判給六項批給"
The report also sets out the operating backdrop. Casinos resumed with no more than 50 percent of casino staff working at any one time1. All social distancing rules, including reduced numbers of gaming table seats and activated slot machines on casino floors compared with pre-COVID-19 levels, were lifted in early January 20231.
What it means for players
The concession change did not interrupt play at VML's properties. Its casinos stayed open for most of 2022, and the capacity limits that cut the number of available gaming tables and slot machines were removed in early January 20231. The gambling assets themselves, including tables and machines, are now government property operated by the concessionaires1. Anyone checking which companies hold Macau concessions can use the regulator and licensing guide for how licensing is verified.
What happens next
No future dates are given.
Sources1 sources
- 澳門特別行政區 政府博彩監察協調局, dicj.gov.mo
