Malaysian tourism and gaming conglomerate Genting Group has lost its bid to win a Macao gaming license, ending months of speculation over a possible shake-up for the casino hub.
On Saturday, the city said it has awarded new licenses to Macao’s six licensed gaming companies — Sands China, Wynn Macau, MGM China, Galaxy Entertainment Group, Melco Resorts and SJM Holdings — that lets them operate for another 10 years, starting in January.
The incumbents were all granted initial gaming rights two decades ago and have invested about $50 billion in the city since then, but the surprise bid from Genting’s GMM Limited threatened to unseat one of them. The decision came as little surprise to gaming analysts, who pointed to Macao’s strong interest in maintaining stability as its economy reels from the COVID-19 pandemic.
