Melco and SJM throw hats in ring for Macau concessions
Sands China announced its submission earlier today.
The six concession system was announced in July, marking a new age of gambling reform in Macau.
Previously, the model for licences consisted of three concessionaires and three subconcessionaires. Now, once the new framework is implemented, the system will be made up of six concessions in total.
Currently, Galaxy Entertainment, Las Vegas Sands, Melco, MGM China, SJM and Wynn are allowed to operate in Macau.
In a statement, Melco said it had submitted a “detailed proposal” for the tender. Lawrence Ho, chairman and CEO of Melco, said that the company’s submission marked a furthering in its commitment to Macau.
“I would like to thank the Macau government for this opportunity,” said Ho. “Our proposal reinforces our commitment to Macau and the further diversification of its economy.”
“We look forward to playing a leadership role in partnering with the Macau government to execute on the government’s vision.”
SJM Resorts, a subsidiary of SJM Holdings, stated that it had also submitted its tender.
If selected, the new concessions would take effect from 1 January 2023. The concessions would span ten years,