In this Sept 16, 2018 file photo, pedestrians walk past Casino Lisboa which has closed as super Typhoon Mangkhut edges closer to Macao. (ISAAC LAWRENCE / AFP)
HONG KONG – Macao's government will formally sign a six-month licence extension for casino operators in the world's largest gambling hub on June 23, local broadcaster TDM reported on Wednesday, an expected move ahead of licence expirations due this month.
Macao's six casino operators – Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment and Melco Resorts – had all applied for the licence extension
The extension, to Dec 31, allows more time for a highly anticipated rebidding process in the Chinese special administrative region.
Macao's six casino operators – Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment and Melco Resorts – had all applied for the licence extension. They will each need to pay 47 million patacas ($5.81 million) for the extension.
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The move also comes as the city's legislature is due to approve an amended gaming law to lay the groundwork for what is required from multibillion dollar casino operators to continue operating in the city.
In 2019 Macao raked in $36.5 billion from its casinos, more than six times that of the Las Vegas strip.