No Talks Yet With Macau Authorities On Gaming Concessions
Wilfred Wong Ying Wai, the executive director and president of Sands China Ltd, during a conference call with investment analysts, noted that the Macau government has yet to approach local casino operator Sands China Ltd to discuss a potential extension of the latter’s gaming concessions.
Unless Macau government authorities grant a form of limited extensions as permitted under the existing Macau gaming law, six Macau concessions are due to expire in June 2022. From the original 20-year term, these extensions can be up to a maximum of five years.
“Normally, extensions of the concessions would be considered by the government as they draw closer to their expiry, but there is no information in this regard,” Mr. Wong said.
Mr. Wong further stated that the Macau government is not in a rush to renew the license. This is due to the present legal issues, such as the concession and sub-concession matters that they have to attend to before the license can be renewed by the Macau government.
The executive director predicts that the relevant public consultation over the review of Macau's gaming framework and legal amendments for the gaming law was likely to take place after the Legislative Assembly is elected.
The Macau government has scheduled an election for the city’s Legislative Assembly on 12th September.
Early this month, Las Vegas Sands Corp also announced plans to become a “strategic investor” in digital gaming technologies,” mainly in the B2B space.
All these factors might come into play for the group’s future plans.
Air Travel is vital
Robert Goldstein, the Chief Executive of Las Vegas Sands Corp, during the conference call stated that increased flight traffic to Singapore is critical for the recovery of the Marina Bay Sands.
The Chief also reaffirmed that the group was not keen to establish a casino resort in Japan. This is because the development framework for a casino complex in Japan made their goals unreachable.