Powered by:
as known from New York Timesas known from USA Todayas known from yahoo!
VA
Contains commercial content
The Grueling Truth - Where Legends Speak / 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
Esteban de Jesus, Roberto Duran y AIDS (1972-89)
Many of us dream of celebrity sports fame, but only cruel individuals ...
Hofstra College lawsuit threatens Sands’ New York casino bid
The drama in the race for a New York casino license has ...
Bet365 Promo
The Most Memorable Moments From The Past Chinese Grand Prix
Last weekend should have marked the Return of the Chinese Grand Prix ...
Macau schedules bidding process for casino licenses from July 29 to September 14
The Macau Committee for Public Tendering of Concessions for Operation Casino Games ...
COVID-19: Macau extends casinos closure until July 22
Amidst mainland China’s zero-COVID policy, Macau had extended the city lockdown, including ...
Macau shuts down all casinos for a week upon COVID-19 zero-tolerance policy
On Saturday, the Macau SAR government ordered a week-long shutdown for all ...
Macau to remain muted, Las Vegas Sands now relies on Singapore
Las Vegas Sands (NYSE: LVS) is welcoming another quarter in the books ...
Peter Maher: An Irish Tribute
INTRO: I was seriously ill in 2018 with 7 nights in the ...
Ranking the top 200 players in the NFL ahead of the 2021 season
This list isn’t based solely on performances from the 2020 NFL season. ...
Lady Tyger’s Tale: How Marian Trimiar Mauled the Boxing Establishment of the 1970s and 80s
To Feed the Ambition in Your Heart is Like Carrying a Tiger ...
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.7/5
McLuck
McLuck
McLuck Review
4.7/5
High5Casino
High5Casino
High5Casino Review
4.6/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Sportzino
Sportzino
Sportzino Review
4.5/5
Vegas Gems
Vegas Gems
Vegas Gems Review
4.5/5
Fortune Coins
Fortune Coins
Fortune Coins Review
4.5/5
Funrize
Funrize
Funrize Review
4.4/5
Pulsz.com
Pulsz.com
Pulsz.com Review
4.4/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.7/5
McLuck
McLuck Bonus
Up to 57.500 Gold Coins + 27.5 Free Sweepstakes Coins
T&Cs apply
4.7/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.6/5
Sweeptastic
Sweeptastic Bonus
Get 55,000 Lucky Coins and 34 Sweeps Coins with first purchase
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75 million WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Sportzino
Sportzino Bonus
Get 180,000 GC + 8 FREE Sweeps Coins
T&Cs apply
4.5/5
Vegas Gems
Vegas Gems Bonus
1000 Gems + 50% Extra gems On Your First Shards Purchase
T&Cs apply
4.5/5
Fortune Coins
Fortune Coins Bonus
Claim Your Free 630,000 Gold Coins & 1,400 Sweeps Coins
T&Cs apply
4.5/5
Funrize
Funrize Bonus
FREE 400,000 Coins and 1000 Entries
T&Cs apply
4.4/5
Pulsz.com
Pulsz.com Bonus
367,000 Gold Coins + FREE 32.3 Sweepstakes Coins
T&Cs apply
4.4/5
Join Our Sweepstakes Casino Community
Our Team
Mike GoodpasterJosh SchwartzSimon BriffaMark LewisSamuel Teets
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
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.

Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: TGTSOCIAL
  • Play Plinko, Hilo, Crash and more!
  • Get Stake Cash bonuses every day!
Stake Originals
Dice
Crash
Plinko
Mines
×
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:
Visit Site