Macau May Extend Gaming Licences Through Year

This week a report from the news channel Teledifusão de Macau revealed that the enclave's Secretary for Economy and Finance is looking into extending gaming licences for operators through the end of 2022.

The licences for the three concessionaires and their three subconcessionaires are currently set to expire on June 26th. Secretary Lee Wai Nong is reportedly looking into extending those through continue operating throughout the year while the government works to sort out how to deal with the casino industry in the former Portuguese colony.

It's believed that the law will be changed to see the subconcessionairies eliminated, but extending the concessionaires to six, which effectively will allow for the same number of casinos. Licences would also be halved in terms of duration, with 10-year terms instead of 20 years.

Macau is currently the world's largest gambling market, but is prone to clampdowns by the Chinese government on citizen spending and wealth, and is still working to fight back from losses that stemmed from the Covid-19 pandemic.

Right now, casino licensees are being encouraged to apply for extensions while the decision-making is being made.