The Macau SAR government signed official 10-year gaming concession contracts with each of the six gaming concessionaires on Friday, December 16, 2022, at a ceremony at the Government Headquarters attended by the Chief Executive and representatives of each bidder1. The concessions had been provisionally granted to the six current operators on November 26 and are now awarded on a definite basis, taking effect on January 1, 20231.
The six awardees are MGM Grand Paradise Limited, Galaxy Casino Company Limited, Venetian Macau Limited, Melco Resorts (Macau) Limited, Wynn Resorts (Macau) Limited and SJM Resorts, Limited1. Newcomer Genting Malaysia-linked bidder GMM Limited failed to secure a gaming concession1.
According to a government press release, the six awardees promised to invest in aggregate a total of MOP118.8 billion (US$14.8 billion), of which MOP108.7 billion will be for exploring overseas customer markets and developing non-gaming projects and MOP10.1 billion for gaming investments1. Authorities state that the investment in non-gaming elements will be 10 times the amount invested in gaming activities1.
| Item | Amount |
|---|---|
| Total pledged investment | MOP118.8 billion (US$14.8 billion) |
| Overseas customer markets and non-gaming projects | MOP108.7 billion |
| Gaming investments | MOP10.1 billion |
Non-gaming initiatives will be focused on 10 areas, including convention and exhibition business, entertainment and performances, sports events, culture and art, healthcare, and themed amusement, along with others1. The tender documents submitted by the six awardees also included their development plans and execution schedules for the 10-year concession period1.
The Government said earlier the decision to award the concessions to the incumbent six operators was based on three main criteria: ensuring the stability of local employment, exploring overseas markets, and development of non-gaming offerings1.
"The aim is to enhance Macau's international image and its attractiveness to tourists, by hosting high-standard events and branded projects"
What it means for players
The operators running Macau's casinos are unchanged. The same six companies that held concessions before the new contracts hold them now, so the venues, brands and casino floors that locals, expats and visitors use remain under the same corporate operators1. The concession terms run 10 years from January 1, 20231.
The pledged spending is weighted heavily toward non-gaming projects and overseas customer markets rather than gaming floors: MOP108.7 billion against MOP10.1 billion1. The stated non-gaming areas include convention and exhibition business, entertainment and performances, sports events, culture and art, healthcare and themed amusement1. How those plans translate into individual properties has not been reported here beyond the aggregate figures and the list of areas.
GMM Limited, the Genting Malaysia-linked bidder, did not receive a concession, so no new operator enters the Macau market under this award1. For background on how concessions differ from other license types, see Types of Gambling Licenses Explained: Concessions, Casino, Online, B2B and B2C and Gambling Regulators and Licenses in Asia: Who Licenses What and How to Check. For general visitor information, see Can I Gamble in Macau?.
What happens next
The new concessions take effect on January 1, 20231. A joint press conference was scheduled for the following day, at which the newly awarded concessionaires and Macau SAR authorities were to divulge the details of each operator's investment plan for the next 10 years1.
