Image: Reuters Berita 24 English - On June 23, the government of Macau will formally approve a six-month licence extension for casino opera...
 |
| Image: Reuters |
Berita 24 English - On June 23, the government of Macau will formally approve a six-month licence extension for casino operators in the world's largest gambling hotspot, according to local broadcaster TDM, a move that is expected ahead of licence expirations later this month.
The delay, which will last through December 31, would give the Chinese special administrative region, which is the only place in China where casino gambling is legal, more time to prepare for a highly anticipated rebidding process.
Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment, and Melco Resorts were among the six casino operators who requested for the licence extension. The extension will cost them each 47 million patacas ($5.81 million).
The move comes as the city's legislature prepares to vote on an altered gaming ordinance that would establish the basis for what multibillion-dollar casino operators will need to stay in business in the former Portuguese colony.
Requests for reaction from the government of Macau were not immediately returned.
Macau's casinos brought in $36.5 billion in 2019, more than six times that of the Las Vegas strip.
However, since 2020, Macau's casinos have been hit by coronavirus travel restrictions and crackdowns on the shadowy junket industry, which have reduced tourist numbers.
Beijing, which is becoming increasingly concerned about Macau's heavy reliance on gaming, has yet to specify how the licence rebidding process will be carried out.
No comments