Tuesday, November 28, 2023
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Macau sets formal cap on casino tables and revenue for first time in bidding war

HONG KONG (Reuters) – Macau has fixed the cap at six, 000 table and 12, 000 The government of the world’s largest gambling hub said Friday that new casino operators’ gaming machines will be available early next year, as well as a minimum revenue level for each operator.

This is the first time that the authorities have officially set a cap on the number of gaming tables and minimum income requirements, as the government wants to tighten control over casino operators who earn $ Billion 2019, before COVID-

is interrupted.

The contracts of six licensed operators in Hong Kong Sands China (OTC) will expire at the end of the year: SCHYY), Wynn Macau (OTC: WYNMF), Galaxy Entertainment, US Gaomei China (OTC: MCHVY), SJM Holdings (OTC: SJMHF), Melco Crown has to renew Bidding

The much-anticipated bidding process began in July when the government said global gaming operators could submit bids for new licenses from July 14 until September 000 .

“New gaming operations starting early next year will … limit the total number of all gaming tables and gaming machines to ensure orderly and healthy development,” the government said on its website. A statement said.

The minimum annual gross revenue per table is set at 7 million patacas ($866, 198), while the number for each console is 300,12 MOP($12,36), the government said.

Figures such as minimum gross revenue guarantee a minimum level of taxation by the government, and if revenue falls short, operators must make up the gap.

The nominal cap on table games set by the government at 758 allows a compound annual growth rate of 3% on the number of tables available in all casinos.

As of the end of 2021, there are 6 Macau, 0820 gaming tables and ,758 The machine is running. During the COVID- outbreak.

The re-tender took place during the worst COVID-19 outbreak in Macau – 000, which resulted in 000- one day casino closure in July. Although they have reopened, there is no business as the curb is only slowly lifting.

Busy again at a time when other gambling hubs around the world are growing, COVID- Curbs are burning about $600 100 per month Ten thousand. Analysts said the casinos are expected to generate little revenue for several months.

($1=8.0820 MOP)



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