Good morning. Negotiations for Macau’s next casino concessions are ratcheting up, with a new report indicating that concessionaires will be obliged to invest $12.5 billion over the course of their new 10-year licenses. The news comes as authorities in the SAR adjust down their quarantine requirements, to five days, a move that the head of the Macau Hotel Association says will have no impact on visitation. Also, authorities are claiming that a criminal syndicate allegedly run by former Suncity boss Alvin Chau raked in $920 million in gains from proxy betting from 2017 to 2020, using Philippines and Vietnam operations.
What you need to know
- Macau’s casino concessionaires are each facing investment of $12.5 billion over the 10-year period of their new concessions, according to a report.
- Authorities are alleging that a criminal syndicate allegedly run by former Suncity boss Alvin Chau made $920 million in gains from proxy betting from 2017 to 2020.
- Hotel Association president says new Macau quarantine reduction to five days will not drive up visitor numbers.
On the radar
- Aristocrat appoints Sally Denby as new Chief Financial Officer.
- IPI claims casino could reopen in 1Q23 if negotiations are successful.
AGB Intelligence
MACAU
Ten-year $12.5bln investment for new Macau concessions
Macau’s gaming commission is pushing applicants for the tender of the new Macau gaming concessions to invest $12.5 billion over the course of the new 10-year licenses, according to a report. The figure comes along with other obligations, such as sponsorship of major sporting and entertainment events. Negotiations between the applicants and the commission are said to be drawing to a close.
Industry Updates
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