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Macau Casinos Expected To Invest Around 12 Bln Over Next 10 Years... (view source)
Revision as of 15:01, 16 November 2022
, 15:01, 16 November 2022Created page with "HONG KONG, Nov 14 (Reuters) - Macau [https://bit.ly/casino-siteleri-casino-siteleri casino siteleri] operators, vying for a licence in the world's biggest gambling hub, are ex..."
HONG KONG, Nov 14 (Reuters) - Macau [https://bit.ly/casino-siteleri-casino-siteleri casino siteleri] operators, vying for a licence in the world's biggest gambling hub, are expected to invest a total of around 100 billion patacas ($12.4 billion) over the next 10 years, local broadcaster TDM reported.<br> The seven applicants, which include incumbents Sands China , Wynn Macau, Galaxy Entertainment, MGM China, Melco Resorts and SJM Holdings , as well as new entrant Genting Malaysia, are competing for six slots.<br> Galaxy and Sands may invest more than 20 billion patacas each, while the others will invest less than 20 billion patacas.<br><br>Altogether the total will be around 100 billion, TDM said.<br> Negotiations with the Macau government are almost complete the broadcaster said, with the bidders having reached agreement about what each of them proposes to do over new 10[https://www.search.com/web?q=-year%20licence -year licence] term which begins in 2023.<br> Malaysian group Genting is a credible threat that could unseat an incumbent Macau operator for a new licence, prompting the industry's biggest potential shakeup in more than two decades, analysts and executives say.<br> The six Macau incumbents have operated in the Chinese special administrative region since 2002, with their current concessions expiring at the end of this year.<br> The bidding for new licences comes as China's "dynamic zero COVID" policy has hammered casino [https://www.express.co.uk/search?s=revenues revenues] over the past two years, and despite some relaxation of travel restrictions for mainland visitors, gambling revenue is unlikely to pick up in the near term, say analysts.<br><br>($1 = 8.0740 patacas) (Reporting by Farah Master; Editing by Kenneth Maxwell)<br>