Gaming operators to pay up to $10m premium for extension, plus bank guarantee

March 10, 2022 Macau Crime & Legal

Macau’s gaming operators will each have to pay a special premium of between MOP50 million and MOP80 million ($6.2 million-$9.9 million) to extend their license contracts for a further six months, as well as offer up a bank guarantee to fund layoffs should their bids be unsuccessful.

TDM-Radio Macau said the bank guarantee may be as much as MOP1.6 billion. The broadcaster gave no further details.

The Macau government, as had been widely expected, announced at the beginning of this month that it would extend the concession contracts by a further six months to the end of this year. The licenses had been due to expire in June and the delay allows more time for the government to put together the terms of the new tender process.