Macau ops comfortable on fresh licences: Goldstein

June 3, 2022 Macau Crime & Legal

Robert Goldstein, the boss of casino group Las Vegas Sands Corp, hinted on Wednesday that all six Macau casino operators would get fresh rights in that market, after the current ones expire this year. He had been asked about whether he had any concerns about the firm’s future in Macau, including proposed regulatory changes under the city’s gaming law amendment.

Mr Goldstein, chairman and chief executive of Las Vegas Sands, parent of Macao operator Sands China Ltd, replied: “I don’t think we should be concerned about the nuance of the gaming law. If anything, it’s getting better for the operators. I think it’s very favourable, and we shouldn’t complain. Everyone gets a [new] licence; life goes on.”

“The licence issue – which was a big issue a year or two ago – it’s much more comfortable today for all us – for every licensee,” he added.

The executive (pictured, right) was speaking at the 38th Annual Strategic Decisions Conference, organised by brokerage Sanford C. Bernstein & Co LLC. He was in conversation with the institution’s gaming analyst, Vitaly Umansky (pictured, left).

The Las Vegas Sands chairman was asked about the choppy nature of market recovery in Macau, amid Covid-19 countermeasures. Macau’s casino gross gaming revenue for May was down 68.0 percent from the MOP10.45 billion (US$1.3 billion) achieved even in May 2021.