Good Morning. Macau’s six concessionaires, and other bidders who may want a tilt at a license, now have the broad outline as to the criteria on which they will be judged. Coming hot on the heels of the enactment of the new Gaming Law, the regulations call on the operators to outline their planned investments in Macau overall and in non-gaming amenities. The government also wants to hear how they plan to expand Macau’s tourism base outside of Mainland China. However, observers say the guidelines still lack specifics.
What you need to know
- The Macau government has published long-awaited guidelines for the re-tendering process for its six casino concessions, though the broad brush outline is still short on specifics.
- Bernstein remains bullish about the Macau gaming sector from avoiding any long term effects from a potential global recession – granted that borders reopen, at some point.
- Genting Malaysia, which struggled to return to profit in 1Q22, is facing a brighter future as Covid restrictions ease and Resorts World Genting ramps up operations: Hong Leong.
- MGM Resorts China has signed a management agreement that will bring the MGM brand to Shanghai’s iconic West Bund to feature 161 rooms and 58 suites.
On the radar
- SJM Holding’s Grand Lisboa shutdown after Covid cluster discovered.
- IPI close to accord to reopen the casino, even after sale of assets push.
- IGT acquires igaming content provider iSoftBet for €160m in cash.
ON THE GROUND
The Macau government has published long-awaited guidelines for the re-tendering process for its six casino concessions, though the broad brush outline is still short on specifics, industry observers say. The tender document is based mostly on the original document published 20 years ago, though it contained some notable exceptions. These include a requirement for the bidding companies to propose how they plan to expand the market of “foreign tourists.” They will also be required to outline their experience in operating casino games and to provide an investment plan for their gaming projects in Macau. Ben Lee, managing partner of IGamiX Management & Consulting, said the tender rules are short on detail and “don’t leave us any the wiser.”
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