The seven bidders for the six Macau gambling licences underwent another round of the “beauty contest” this week that will leave one of them without a licence.
The Chinese territory Macau Daily Times reports that this was the final round of negotiations with the companies seeking the 10-year licences.
It is necessary for each applicant to submit an amended proposal based upon the discussions, with the total amount of investment that they will make during their 10-year operating period if granted.
The negotiations come at a sensitive time for the operators. GGR in the past two years has been seriously impacted by the succession of closeouts by the Chinese government on the border with the territory. The latest figures come from September, when GGR fell nearly 50 per cent compared with September 2021.
The six current licence holders, Wynn Macau, Las Vegas Sands Macau, Melco Resorts, SJM Holdings, MGM China and Galaxy Entertainment, have been joined by Genting Group.
The MDT photograph shows the current application bids before the committee.