Macau's government provisionally awarded Wynn Resorts (Macau) S.A. one concession for the operation of games of chance in casino, according to Dispatch number 205/2022 of 25 November 2022, published in the Official Gazette on 26 November 20221. The award followed a public tender opened under Dispatch number 136/2022, published on 28 July 20221. The concession was confirmed by Dispatch number 222/2022 of 16 December 2022, and the concession contract was signed in Macau on 16 December 20221.
The contract sets the term at ten years, beginning on 1 January 2023 and ending on 31 December 20321. It authorizes Wynn Resorts (Macau) S.A. to operate two casinos, "Casino Wynn Macau" and "Casino Wynn Palace"1. The document also refers to "the following casinos which may revert to the MSAR on 31 December 2022"1.
The concession does not cover parimutuel betting, interactive games, games of chance, betting or operations on board ship or aircraft, or operations offered to the public except as provided in Law No. 16/20011. The contract states that the concessionaire's interest in operating games of chance in other countries or regions requires the prior authorization of the Chief Executive1.
The contract sets financial and corporate conditions. Share capital may not be less than MOP 5,000,000,000.00 (five billion patacas), and net asset value may not fall below that amount during the term1. The concessionaire must keep its head office in Macau as a limited liability company, and its managing director must be a permanent resident of Macau holding at least 15% of share capital1. A bank guarantee of MOP 1,000,000,000.00 (one billion patacas) runs from 1 January 2023 until one hundred and eighty days after the term expires or the concession is rescinded1. Loans or similar contracts above MOP 60,000,000.00 (sixty million patacas) must be reported to the government, and those above MOP 100,000,000.00 (one hundred million patacas) require authorization from the Secretary for Economy and Finance1.
The contract also requires casinos to open twenty-four hours, without interruption, every day of the year, with suspension or changes to operating hours only in exceptional cases at the request of, or with authorization from, the Chief Executive1. The concessionaire must submit a list of gaming tables and gaming machines it intends to operate to the Gaming Inspection and Coordination Bureau each December1.
"The term of the concession granted by the present concession contract is ten years, beginning on 1 January 2023 and ending on 31 December 2032."
What it means for players
The concession covers casino gambling at Casino Wynn Macau and Casino Wynn Palace from 1 January 2023 through 31 December 20321. It does not cover interactive games, parimutuel betting, or betting on board ship or aircraft1. The contract requires the casinos to open twenty-four hours, without interruption, every day of the year, except in exceptional cases authorized by the Chief Executive1. The number of gaming tables and gaming machines can be changed by prior communication to the DICJ, and the concessionaire must keep a minimum variety of games under DICJ instructions1. The contract does not set player-facing terms such as odds, limits or dispute procedures.
What happens next
The contract was signed on 16 December 2022, with the term beginning 1 January 20231. The document refers to casinos that may revert to Macau on 31 December 20221. No further steps are set out in the contract text.
Sources1 sources
- Document, sec.gov
