Key financial details of up to six new Macau game concessions can only be clarified after a “temporary” successful bidder is determined, according to a note from JP Morgan Securities. “Our understanding is that final details and details, including the size of the investment commitment, concession premiums and possible rents for reversed game assets, can be fine-tuned at the negotiating stage, and then concessions to six bidders with the signing of official contracts,” analysts DS Kim and Livy Liu said.
“Once all bids are collected by mid-September, the government will review the proposal and announce six ‘tentative’ winners before the end of the year,” they said. “If you look at history, the end of November is the best guess.” The new concession will serve a 10-year term. The Macau commission chief tasked with investigating the tendering company said on Thursday he hoped the process could be completed this year in time for the new concession.
A new open tender for Macau Games rights will be accepted. MGM Grand Paradise SA, which currently holds a license for the Macau casino operation of MGM China Holdings, one of the six concessions, issued a statement Thursday confirming it will “participate in an open tender” for a new concession.
“MGM Grand FaradaIsis will continue to support Macau’s SAR government to promote economic diversification, helping Macau not only further solidify its position as a world center for tourism and leisure, but also expand its new heights for economic development,” the statement added.
“As previously stated in the tender filing, the government will evaluate the various aspects of the bid, including their [bidders’] plans to expand the source market abroad, the social responsibility operators intend to carry out, and the level of benefits operators’ planned investments in gaming and non-game projects can bring,” JP Morgan said in a note on Thursday
Analysts added. “However, we have thought that the six current operators will be the winners of the next concession, and we are still thinking about it.” In a speech Thursday, Macau’s Administration and Justice Minister Andre Cheng Wong-chon, chairman of the bidding committee, mentioned the authority of Macau’s chief executive officer to reduce taxes owed on casino gross game revenue as an incentive to attract more customers from abroad.
Asked on Thursday how the government will evaluate the trigger and calculate the actual level of tax cuts, Cheng said the topic will be covered in a separate regulation. In another development, Agriculture and Finance Minister Ray Wei’s dispatch on Thursday defined what are called key employees who are likely to be Macau casino concession bidders. These people will be tested for conformity by local game regulators. 파칭코사이트인포 According to the dispatch, they are described as people with the “highest status” in the fields of game management, administrative and financial issues, human resources, compliance issues, legal issues, and information technology.