Opinion
MACAU Licences
What are China’s intentions for Macau’s concessionaire holders?
Macau is the world’s most densely populated area with 20,848.01 people per square kilometre, more densely populated than Tokyo or any other vast megalopolis. The vast majority of the inhabitants in Macau are employed in the gaming industry and as such, Macau has become one of the wealthiest areas in the world
P84 NEWSWIRE / INTERACTIVE / MARKET DATA
Te complicated nature of the concessaire licensing, sub-licensing and third-party agreements in Macau’s gaming sector are coming under increasing scrutiny as the expiration deadline for concessaire renewals approach in 2020 and 2022. Will Cammegh asks if China’s intentions towards casino operators in the region spell the end of US involvement in the region or simply long-term evolution...
On January 24, 2018, casino magnate Steve Wynn, head of Wynn Resorts, said he was confident that his casino business in Macau would continue beyond the expiration of casino concessions in 2020. He told analysts that his confidence came from talks with the government in Macau. “We have been given reason to have confidence that our businesses will continue after the initial concession expiration dates,” he said. “Tat confidence is based upon the kind of conversations we have had with the government.” Wynn said that China was adamant about stability and did not like ‘disruptions.’ On January 27, 2018, the Wall Street Journal revealed the scale of sexual misconduct allegations levelled at Mr. Wynn from
those within the workplace at Wynn Resorts. On February 6, 2018, Mr. Wynn announced his resignation as CEO of Wynn Resorts.
NO SUCH THING AS A CONCESSION RENEWAL Te risk of Wynn Resorts losing its gaming licenses in
Macau, as well as in the states of Massachusetts and Nevada in the US are lower following the departure of Mr Wynn. However, the publication of sexual misconduct allegations led the Massachusetts Gaming Commission to open an investigation into Wynn Resorts. Te company is currently developing a casino property in Boston, Massachusetts. Te US$2.4bn project is scheduled to open in 2019. Te Nevada
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116
