Saturday, December 2, 2023

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SJM believes new gaming concessions to have 10-year term

Management at SJM Holdings told Goldman Sachs that they expect the duration of concessions terms to be around ten years.  SJM management made the comments...

Strategic implications considering Macau’s new gaming law “will be felt much sooner”, says study 

The strategic and operational implications in light of the new gaming law will be felt much sooner, despite Macau’s economic diversification plan requiring some time to take shape, and the regulatory and industry-wide changes will gradually be compounded into substantial differences over the next decade and beyond, says a research report.

AMCM: Macau economy to grow at double-digit rates in 2023, following gaming concessions

Macau’s economy is ‘expected to rebound at a double-digit rate for the whole year of 2023,’ according to the SAR’s monetary authority (AMCM).

Macau operators face $12.5bln investment under new concessions

Negotiations over Macau’s new gaming concessions are approaching conclusion, according to TDM Radio Macau, with the six future concessionaires to be obliged to investment plans over the 10-year periods of the new licenses amounting to MOP100 billion ($12.5 billion).

Deutsche Bank expects Macau incumbent operators to keep concessions

Deutsche Bank is “firmly” of the view that the current six incumbent concessionaires currently operating in the market “will maintain their licenses,” the brokerage noted on a report from a recent field trip to a booming Las Vegas strip.

Macau to have six concessions, with 10-year license term

Macau will be permitted to have six casino concessionaires with the license period reduced to ten years, with the possibility for a three-year extension, according to the city's new gaming law.

Estimated operators non-gaming investment in 2024 to account for about 20 percent of EBITDA: Morgan Stanley

Analysts from Morgan Stanley estimate the average yearly spend for non-gaming diversification by the Macau SAR concessionaires over their 10-year concession term will be around 20 percent of EBITDA volume estimated for 2024.

Macau Jockey Club will have to fulfill concession contract requirements: Secretary

Macau's Secretary for Economy and Finance, Lei Wai Nong, said Wednesday, when commenting on the recent discussion concerning the future of the Macau Jockey Club, that "operators must perform their obligations strictly in accordance with the requirements of the law and the concession contract".

Melco ready for 20 percent investment pledge increase, working with gov’t on diversification: CEO

The gaming operators and the Macau government share the same goals, despite delays in diversification plan discussions, the chairman and CEO of Melco Resorts & Entertainment, Lawrence Ho, indicated. The company is also ready to tackle a 20 percent investment pledge increase once GGR levels top $22.45 billion, says the executive.

Macau gov’t expecting gaming operators to do “heavy lifting” of diversification efforts: consultant

The Macau government is expecting gaming concessionaires to do the "heavy lifting" of economic diversification efforts, veteran casino gaming executive Kevin Clayton told Asian Gaming Brief.