Seven Macau satellite casinos are likely to pull out of the sector by the middle of the year, Chinese-language media Macau Daily News reported on Thursday, citing unnamed industry sources. It also did not reveal the name of the place. But it said the properties are located in the NAPE and Taipa districts of the Macau Peninsula, respectively. Macau satellites are places controlled by independent investors, but each now relies on a game license from one of the existing concessions. The report did not say whether the hotel space available on most satellites would continue to operate.
Factors that could trigger satellite casino closures include ongoing losses and “tremendous depletion” of cash flows amid inbound tourism suspensions linked to the COVID-19 pandemic, the Macau Daily News said, citing sources. Other factors have taken into account uncertainty about when and how mainland Chinese authorities could ease travel restrictions on mainland residents and new regulatory requirements for Macau satellite casino operators mentioned in the city’s draft game law revision. The draft bill, which is currently under consideration, says satellites will still be allowed to operate in the domestic market with a final draft to be approved by the legislature in June, but they will each receive a three-year grace period to tie ownership of game facilities to six retailers that can serve the Macau market within the next decade. 슬롯머신<
The “start” of the three-year grace period for satellites will coincide with the start date of the city’s new game concession, with the latter to be allocated after a new public tender. Macau lawmaker Chan Chak Mo mentioned the timing of the grace period in a commentary posted to local media in early March. He cited an explanation provided by local government officials advising his legislative committee, which should scrutinize game law amendments.
Currently, six Macau game concessions were scheduled to expire on June 26. They have all confirmed to GGRASIA that they have already applied to the Macau government for an extension of the existing rights to Dec. 31. The latter was feasible by local authorities in preparation for a new public tender for Macau game permits. Currently, there are 18 satellite casinos operating in the city, 14 of which are related to the game rights of concessionary SJM Holdings. Three more are connected to Galaxy Entertainment Group Limited. The other is tied to Melco Resorts & Entertainment Limited.