Good Morning. Genting is vying to operate in Macau for a second time. Further to the six incumbent operators, the Macau Government received just one extra seventh bid – from a Group it found unsuitable to hold one of the initial gaming concessions some 20 years ago. The best package goes to MGM.
What you need to know
- Genting Group is the wild card in Macau’s concessions process, the seventh bid for the available six concessions along with the six incumbents.
- Macau Government Information Bureau confirmed receipt of seven bids for the new gaming concessions to be issued for a tenure of ten years.
On the radar
- IPI gaming equipment auction begins on 7 October 2022.
AGB Intelligence
MACAU
Genting the wild card, bids for a Macau gaming concession, again
Genting is the wild card in Macau’s gaming concession process, submitting a seventh bid for the available six concessions, along with the six incumbent operators. The group’s second attempt to operate in Macau has met mixed reactions. Leading brokerage J.P. Morgan argues that “it is unlikely for a government to choose a new foreign operator over incumbents, who have invested billions of dollars and employed local staff over two decades, including in an unprecedented downturn like this.” In turn, quoted by the South Morning China Post, gaming consultant Ben Lee said: “The entry of Genting into the fray – the “only truly global gaming operator” – may strike fear into the hearts of the existing license holders vying to keep a foothold.”
Industry Updates
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