On Saturday, the Macau government announced the provisional list of casino concessions to be awarded following conclusion of its public tender, with the six existing concessionaires provisionally awarded new contracts to continue operating casinos in Macau for the next 10 years.
Some experts told IAG that by allowing the current six concessionaires to continue, some uncertainty in the job market has been resolved.
The six awarded companies to be granted new concessions are MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts (Macau), Wynn Resorts (Macau) and SJM Resorts. As of the third quarter, the number of employees in Macau’s gaming industry was listed as 66,400, accounting for 18.3% of the workforce.
In an interview, the President of the Macau Responsible Gaming Association, Song Wai Kit, said that the current six companies retaining concessions was a positive for Macau’s job market and stability, as well as a “morale-booster” for employees.
“The six companies have been operating in Macau for 20 years and are familiar with the city’s economic environment,” Song said.
“They do not need to build a new casino after obtaining a gambling concession as they already have the infrastructure in hand, and they have already established a good communication mechanism with the Macau government and various sectors of the community.”
Ryan Hong-Wai Ho, lecturer at the Centre for Gaming and Tourism Studies, expressed a similar view.
“The six concessionaires have been awarded a new gaming concession, which will create favorable conditions for the new positioning of the gaming industry without the uncertainty of new operators taking over and the human resources factor,” he said.
“The outcome of the tender is reasonable, as the six gaming companies have invested capital in Macau in the past and will continue to invest in Macau for the next 10 years, including non-gaming projects, to help Macau’s social and economic development and to provide a sustainable environment for the gaming industry in Macau.”
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