On November 14, the Macao SAR Government reached an agreement with a company to bid for a new 10-year Macau gaming franchise, with a total investment of about MOP 100 billion during the franchise period. Seven competitors are competing for six places, including currently licensed Sands China, Wynn Macau, Galaxy Entertainment, MGM China, Macau Gaming Holdings, and the new Malaysian Genting Group
On November 26, the Chief Executive of the Macao Special Administrative Region issued Chief Executive Order No. 205/2022, announcing the list of companies that have received temporary grants for gaming operations. They are MGM Golden Palace Co., Ltd., Galaxy Casino Co., Ltd., Venetian Macau Co., Ltd., Macau (Macau) Co., Ltd., Yongli Resorts (Macau) Co., Ltd., Australian Entertainment Integrated Resorts Co., Ltd., and Genting Group.
I think this is basically in line with expectations; it was originally these six! The reason is very simple. In the past, these six companies have made an indelible contribution to Macau's economic development. Now, due to the epidemic, it is impossible for the Macao SAR government to cross the river, demolish bridges, and kill donkeys! It makes sense for Malaysia to be out! $WYNN MACAU (01128.HK)$ $MGM CHINA (02282.HK)$ $SANDS CHINA LTD (01928.HK)$
GMM shares that Genting Group participated in the bidding were...