As previously reported by IAG, seven companies submitted bids on Wednesday 14 September for Macau’s casino gaming concessions tender process. The tender opening process was held Friday, with all seven companies being accepted to participate in the tender.
The tender committee opened and examined the bids of the seven companies in the order in which they were submitted. The bid opening process was completed at 6:40pm.
Wynn Resorts (Macau) S.A., Venetian Macau S.A., Melco Resorts (Macau) S.A., MGM Grand Paradise S.A., Galaxy Casino S.A. and SJM Resorts S.A. were accepted to participate in the bidding process.
GMM S.A. was conditionally accepted to participate in the bidding. Should it win a tender, it will have to undergo certain further actions, for example the increase of its capital MOP$1 million to the minimum MOP$5 billion required under the Macau gaming law.
The tender committee noted that “in accordance with the relevant laws and the tender offer, the committee will commence subsequent consultation, negotiation and evaluation with the accepted companies.”
Speaking with media about her company’s chances, Wynn Macau Vice Chairman and Executive Director Linda Chen said, “I believe Wynn has many years of experience in Macau and has undertaken developed here for many years, so I have confidence in the tender.”
Melco Resorts Chairman and CEO Lawrence Ho added, “Seeing a new bidder (GMM) joining the tender shows that the gaming industry has confidence in Macau’s development. Melco has invested in Macau for 15 years and has made significant investments in social responsibility and non-gaming elements, matching the Macau government’s development. We have confidence in the tender.”
Daisy Ho, Chairman and Executive Director of SJM Holdings, said, “We are optimistic about the future development of Macau and are very confident in the bid and believe that the Group will continue to support the prosperity and stability of Macau.”
MGM China Co-Chairman and Managing Director Pansy Ho said, “We are confident in the bidding. The new bidder has responded to the Macau government’s request for a more diversified development plan in areas including sports, environmental protection and culture.”
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