The Macau SAR Government will officially sign off on the six-month extension of the gaming licenses of Macau’s six concessionaires on 23 June, according to TDM-Rádio Macau.
The extension, coming shortly before the licenses are due to expire on 26 June 2022, is expected to align with the passing of Macau’s amended gaming law by the Legislative Assembly next week.
Macau’s Secretary for Economy and Finance, Lei Wai Nong, revealed in March that the six concessionaires would have their concessions extended from the former expiry date of 26 June 2022 to 31 December 2022, allowing the government further time to amend the gaming law and run a tender process for new concessions.
The six-month extension will see each concessionaire pay an “extension premium” of MOP$47 million (US$5.8 million).
It is anticipated that the government will look to complete the entire re-tendering process, including determining the winning bidders and signing new concession contracts with those winning bidders, by the end of 2022.
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