New Macau requirements for concessionaires proposed

The Macau government has put forward new requirements for gaming concessionaires in response to its diversification development needs, with a source saying the new mandates are delaying their investment plans.

Various sources confirmed that the negotiations between gaming operators and the government have reached a stalemate, as the Macau authorities have changed their requirements regarding the concessionaires’ investment plans.

According to a source close to various gaming operators, the government has required all gaming operators to submit detailed plans for each investment project, including strong evidence that their projects will promote Macau’s four major industries.

These industries include sci-tech research and high-end manufacturing, traditional Chinese medicine, cultural tourism, MICE and modern finance.

A source told AGB that the gaming operators were surprised by the specifics required for each investment area, noting that “the government’s feedback let them know they weren’t being detailed enough. The requirements are now not only the amount of investment and the content of activities but also about bringing social benefits and promoting the development of Macau’s four major industries.”

Source: Asia Gaming Brief