The Macau SAR Government has announced the provisional award of new 10-year gaming concessions, with the current six concessionaires named.
According to details announced by four members of the eight-member tender committee (see picture above) at a press conference on Saturday, the six successful bidders are MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts (Macau), Wynn Resorts (Macau) and SJM Resorts.
This means GMM, a subsidiary of Genting Malaysia, is the lone bidder to have missed out on a concession. After questioning in the press conference by IAG, it was clarified that the order in which the successful bidders were named was the order in which they finished, meaning MGM Grand Paradise achieved the highest score and SJM Resorts the lowest of the successful bids.
Macau’s Secretary for Administration and Justice, André Cheong Weng Chon, said that after the announcement of the provisional award list, the government would begin to draw up firm contracts which are expected to be signed with concessionaires next month.
“The six companies that have been provisionally awarded will be developing the non-gaming and gaming sectors for Macau,” said Cheong. “They have all submitted plans to the government for future investments, but no details can be announced at this stage.
“Why were these six companies chosen? The Government has chosen these six companies in accordance with the law, and the Bidding Committee, in accordance with the law, focused on the tenderers’ social responsibility plans, and this condition was accepted by the Government.
“In the case of the foreign visitor market and the non-gaming investment program, the Government has also given priority to these two areas, and past performance has also been taken into account in the evaluation.”
Asked about Genting Malaysia’s bid and how it compared with the existing six concessionaires, the government said it would not publish the scores at this time.
GMM is a new company, it added, with no gaming experience in Macau, but they have been involved in meetings with the government throughout. The government confirmed that GMM’s score was lower than the existing six but reiterated that the scores will not be made public until next month.
The final award of concessions will be approved by Chief Executive Ho Iat-seng, who was conspicuously absent for Saturday’s announcement.
In a statement issued shortly after the announcement, Melco Resorts Chairman and CEO Lawrence Ho said, “We are honored to have been selected and granted a provisional award for the concession to operate gaming in Macau and would like to thank the Macau government for running a smooth and transparent process. We are committed to Macau and its development as Asia’s premier tourist destination.”
Dr Wilfred Wong, President of Sands China Ltd, remarked, “The entire company is elated at the news of our successful bid for a new 10-year gaming concession. We are grateful to each of our 25,000 team members for their tireless support and dedication. Our gratitude also goes to the tender committee for its meticulous and thoughtful consideration of the tender submissions. We will do our utmost to further contribute to Macau’s economic diversification and its continuing development into a world-class international tourism destination.”
RelatedPosts
