Good morning. Speculation has finally been laid to rest, as Macau’s six incumbent operators were granted provisional 10-year casino licenses, leaving Genting (again) out to dry. Operators are now working through capital and management restructuring, with Wynn Macau already announcing its plans. Meanwhile, Sri Lanka is going to study setting up a casino regulatory body, to try to ensure it properly taxes the industry. And CEZA refocuses on fintech as a revenue driver.
What you need to know
- Genting loses Macau concession bid, current six operators get provisional 10-year licenses, contracts being prepared to start January 1st, 2023.
- Wynn Macau becomes the first to announce its restructuring to pave the way for its new gaming license, injecting $621 million into its Macau subsidiary.
- Sri Lanka is pondering whether to set up a casino regulatory body, as it aims to calculate and collect tax from casino operators under new licenses.
- The Cagayan Economic Zone Authority planning to further invest in technology as revenue driver, focus on blockchain and financial technology.
On the radar
- Academic: pandemic slashed Genting’s chance for Macau concession.
- Macau doesn’t shutter StarWorld despite infected tourist visiting casino.
- Donaco chairman “incredibly optimistic” about company’s future.
AGB Intelligence
MACAU
Genting out as Macau’s current operators get provisional concessions
Macau’s six current gaming operators can breathe a sigh of relief after being granted 10-year provisional licenses, with contracts currently being negotiated. Genting was, yet again, left behind in the bidding, as authorities focused on local employment over new investment. Wynn Macau has already announced its capital restructuring plan, injecting $621mln into its license-holding subsidiary, helmed by Vice Chairman Linda Chen.
Industry Updates
- Zitro wins “Slot Machine of the Year” at BEGE Awards.
- Sands China: 19th year of donations to Tung Sin Tong Charitable Society.
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