Macau tender bidders told to up spending proposals, says CS

Macau tender bidders told to up spending proposals, says CS

Article brief provided by GGR Asia
  • GGR Asia
October 11, 2022 2:53 PM

A “channel check” by Credit Suisse (Hong Kong) Ltd indicates that the Macau gaming-concessions public tender process “is not as straightforward as expected,” with the “government demanding much more non-gaming investment” from the bidders.

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The Macau authorities have stated they aim to have up to six, 10-year new concessions, starting from January 1, 2023. The winners will be selected from the seven accepted applicants to the public tender for fresh gaming rights: the six incumbents and one newcomer, GMM Ltd, a unit of Genting Malaysia Bhd.

“After initial presentations in mid-September, Macau operators had another meeting with the Macau government in the last week of September to go through individually the rebidding proposal,” wrote Credit Suisse analysts Kenneth Fong, Lok Kan Chan, and Sardonna Fong.