Seen on:
as known from New York Timesas known from USA Todayas known from yahoo!
VA
The Grueling Truth - Where Legends Speak / Latest Sports News & Rumors: Tailored for You / Casino giants in Macau win license renewals, Malaysia’s Genting loses bid

Casino giants in Macau win license renewals, Malaysia’s Genting loses bid

Publish Date: 11/27/2022
Fact checked by: Mike Goodpaster

Six casino operators authorized to conduct business (Macau six) in the Chinese Special Administrative Region (SAR) have won the competitive bidding process for the territory. They received 10-year license renewals for their businesses.

The licenses for the Chinese branches of Las Vegas Sands, Wynn Resorts, and MGM Resorts, along with Melco Resorts, Galaxy Entertainment, and SJM Resorts, are set to expire at the end of 2022, ending a 20-year validity period.

“The government has chosen these six companies in accordance with the law, and the Bidding Committee, in accordance with the law, focused on the tenderers’ social responsibility plans, and this condition was accepted by the government,” Macau Secretary for Administration and Justice André Cheong Weng Chon said.

With Macau expected to keep the status quo with its half-dozen gaming operators, only one outsider participated in the open bidding process. Genting Group, based in Malaysia, lost the bid. Known for its New York and Las Vegas Resorts World casinos, the company is a global gaming and hospitality giant.

Cheong said that the government would not release right away the grades that the Bidding Committee gave to the seven companies that bid. The secretary didn’t say anything about how seriously Genting was being looked at for market entry.

China’s President Xi Jinping has urged Macau to develop alternatives that don’t involve gambling. Beijing asserted that the huge amounts of money from the mainland poured through Macau’s casinos and the area’s tax laws threatened the People’s Republic’s national security.

Since late 2020, the mainland has been helping Macau build its bond exchange. Macau expects its licensed casinos to follow the rules from the mainland. Under the terms of the newly negotiated concessions, each gaming license holder will have to put a certain amount of money into updating their resorts in ways that don’t involve gaming.

“The six companies that have been provisionally awarded will be developing the non-gaming and gaming sectors for Macau. They have all submitted plans to the government for future investments, but no details can be announced at this stage,” Cheong said.

Read Also
James Brooks: The Bengals’ Dual-Threat Dynamo and Unsung NFL Star
James Brooks emerged as one of the NFL’s most dynamic all-purpose backs ...
The Van Arsdale Twins: Basketball’s Mirror Image Duo
In the golden era of the NBA, where the game was beginning ...
Bet365 Promo
1986 NLCS Deep Dive: Mets vs. Astros — Chaos in the Dome and Glory at Shea
Matchup: New York Mets (108–54) vs. Houston Astros (96–66) Series result: Mets ...
1984 NBA Finals: Celtics vs. Lakers — The Battle That Changed Basketball Forever
For over a decade, the NBA's greatest rivalry had been dormant. The ...
The 1979 Pittsburgh Pirates: “We Are Family” and a Season of Triumph
In the annals of Major League Baseball, the 1979 Pittsburgh Pirates stand ...
🏀 Top 10 NCAA Men’s Basketball Championship Games of All Time
Context: Houston’s “Phi Slama Jama” (Hakeem Olajuwon, Clyde Drexler) was heavily favored. ...
Top 10 Texas Tech Men’s Basketball Players of All Time
Here’s a countdown of the Top 10 Texas Tech Men's Basketball Players ...
Top 10 Arkansas Razorbacks Men’s Basketball Players of All Time!
Arkansas has a rich basketball history, producing some of the best players ...
Top 10 Seattle Mariners of All Time
The Seattle Mariners, established in 1977, have been home to numerous exceptional ...
Esteban de Jesus, Roberto Duran y AIDS (1972-89)
Many of us dream of celebrity sports fame, but only cruel individuals ...
Top Brands
Top Bonuses
Real Prize
Real Prize
Real Prize Review
4.8/5
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
4.5/5
Jackpota
Jackpota
Jackpota Review
4.4/5
CrownCoinsCasino
CrownCoinsCasino
CrownCoinsCasino Review
4.3/5
LoneStar Casino
LoneStar Casino
LoneStar Casino Review
4.2/5
High5Casino
High5Casino
High5Casino Review
4.2/5
MegaBonanza
MegaBonanza
MegaBonanza Review
4.2/5
MyPrize US
MyPrize US
MyPrize US Review
4.1/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.1/5
Real Prize
Real Prize Promo
625K Golden Coins + Up to 125 SC FREE + 1250 VIP Points
T&Cs apply
4.8/5
Stake.us
Stake.us Promo
56 Stake Cash + 560K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Promo
150% Extra: 50K Gold Coins + 25 SC FREE
T&Cs apply
4.5/5
Jackpota
Jackpota Promo
150% First Purchase Offer: 50K Gold Coins + 25 SC FREE
T&Cs apply
4.4/5
CrownCoinsCasino
CrownCoinsCasino Promo
Get 200% More Coins on First Purchase - 1.5M CC + 75 SC
T&Cs apply
4.3/5
LoneStar Casino
LoneStar Casino Promo
Get up to 500K Gold Coins + 105 FREE SC + 1000 VIP points
T&Cs apply
4.2/5
High5Casino
High5Casino Promo
245% Extra up to 60 SC FREE + 700 Gold Coins and 400 Diamonds!
T&Cs apply
4.2/5
MegaBonanza
MegaBonanza Promo
150% First Purchase Offer: Up to 200K Gold Coins + 101 SC FREE
T&Cs apply
4.2/5
MyPrize US
MyPrize US Promo
Special Offer: 300K Gold Coins + 30 SC FREE and 10 Free Spins
T&Cs apply
4.1/5
Wow Vegas
Wow Vegas Promo
35 SC FREE and 1.75M WOW Coins
T&Cs apply
4.1/5
Our Team
Mike GoodpasterJosh SchwartzSimon BriffaMark LewisSamuel Teets
+8
Mike Goodpaster
Mike Goodpaster
Chief Editor
Josh Schwartz
Josh Schwartz
Editor
Simon Briffa
Simon Briffa
Sports Editor
Mark Lewis
Mark Lewis
Editor
Samuel Teets
Samuel Teets
US Sports Veteran
Author Icon
drjaygee
Editor
Find out what the legends have to say about sports this week....
Find out what the legends have to say about sports this week....

21+ and present in VA. Gambling Problem? Call 1-800-GAMBLER.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.
Virginia Town HallCloudflareSSL
Close
Our Sports Pros recommend these awesome sports betting sites this week:
DraftKings
DraftKings Promo
New Customers Bet $5, Get $300 in Bonus Bets If Your Bet Wins!
T&Cs and 21+ apply
Code:
Open DraftKings
Get Bonus
FanDuel
FanDuel Promo
Bet $5 Get $200 in Bonus Bets If Your Bet Wins!
T&Cs and 21+ apply
Code:
Open FanDuel
Get Bonus
BetMGM
BetMGM Promo
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
T&Cs and 21+ apply
Code:
Open BetMGM
Get Bonus
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Play now