Wynn Resorts (Macau) S.A. signed a concession contract with the Macau Special Administrative Region on 16 December 2022 to operate games of chance in casinos, according to the deed of the contract published by the US Securities and Exchange Commission1 and the contract excerpt published by Macau's Gaming Inspection and Coordination Bureau2. The contract authorizes the company to operate two casinos, "Casino Wynn Macau" and "Casino Wynn Palace"1.
The concession runs for ten years, beginning on 1 January 2023 and ending on 31 December 20321. The contract states that the casinos "may revert to the MSAR on 31 December 2022"1. The Macau SAR was represented by Chief Executive Ho Iat Seng, and Wynn Resorts (Macau) S.A. was represented by chairman Craig Scott Billings and board members Chen Chih Ling Linda and Ian Michael Coughlan1.
The award followed a public tender opened under Dispatch number 136/2022, published in the Official Gazette on 28 July 2022. Wynn Resorts (Macau) S.A. was provisionally awarded one concession under Dispatch number 205/2022 of 25 November 2022, and definitively awarded it under Dispatch number 222/2022 of 16 December 20221.
The contract sets financial and operational conditions:
- The concessionaire's share capital may not be less than MOP 5,000,000,000 (five billion patacas), and its net asset value may not fall below that amount during the term1.
- The managing director must be a permanent resident of the Macau SAR and hold at least 15% of the share capital1.
- The concessionaire must maintain its head office in Macau as a limited liability company1.
- The concession does not cover parimutuel betting, interactive games, or games of chance on board ship or aircraft1.
"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 two casinos named in the contract, Casino Wynn Macau and Casino Wynn Palace, are the only Wynn venues authorized under this concession1. The contract requires the concessionaire to open the casinos twenty-four hours, without interruption, every day of the year, with suspension or changes to operating hours allowed only in exceptional cases at the request of, or with authorization from, the Chief Executive2. The concession does not cover interactive games, so online casino play is not part of this license1. The contract requires the concessionaire to keep a minimum variety of games under the instructions of the Gaming Inspection and Coordination Bureau2. Players can check whether a casino is licensed under Macau's regime through the Gambling Regulators and Licenses in Asia guide and the Is This Casino Licensed? checklist. For general visitor information, see Can I Gamble in Macau? and Casinos in Macau: Who Can Go In.
What happens next
The concession takes effect on 1 January 2023 and runs to 31 December 20321. The contract states that the concessionaire must submit to the Gaming Inspection and Coordination Bureau each December a list specifying the number of gaming tables and gaming machines it intends to operate the following year, along with their locations2. The contract also requires a review by the bureau every three years of the overall performance of the concession2.
Sources2 sources
- Document, sec.gov
- 澳門特別行政區 政府博彩監察協調局, dicj.gov.mo
