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 dez22 Concession contracts summary: everything you need to know   by   Andrew W Scott     Wed 21 Dec 2022 at 09:38 29 SHARES 732 VIEWS Below is a summary of significant terms and conditions under the  concession contracts signed on Friday 16 December 2022 , as understood by  IAG . (Note exchange rate US$1 = MOP$8)   Contract terms and conditions common to all concessionaires Term Concession term: 1 January 2023 to 31 December 2032 Early concession termination By mutual agreement By breach of obligations by concessionaire By public interest reason(s) By threat to national security By lack of concessionaire suitability At government’s option with one year’s notice from the eighth year of concession (with all legal rights and obligations accrued to the concessionaire before the date of redemption notice assumed by the Macau SAR government, and reasonable and fair compensation to the concessionaire) Operations Operating hours Must operate 24/7, every...

 dez22 The Macau government has announced its allocation of tables and slot machines under the new concession period to commence from 1 January 2023. The government  had previously announced  the number of tables and slots in Macau under the new concessions would be reduced to 6,000 and 12,000 respectively. This represents a 13% reduction in tables from the former 6,925 under the table cap which applied to the previous concession period set to end on 31 December 2022, and a 3% reduction in slot machines from the DICJ’s last official count of 12,387 machines as at the end of September. The biggest winner is MGM with an additional 198 tables to add to its former allocation under the table cap, representing an increase of 36%. MGM is the only one of the six concessionaires to receive an increase in table allocation, with the other five concessionaires, SJM, Melco, Wynn, GEG and Sands, losing 743, 196, 100, 79 and 5 tables respectively. SJM’s enormous loss of tables likely re...

set23 Os apoios das concessionárias às Pequenas e Médias Empresas (PME) estão a ser desviados para apoiar os projectos do Governo de revitalização da cidade. A hipótese é colocada pelo deputado Ron Lam, que questiona o facto de quase um ano após a atribuição das novas concessões de jogo, apenas serem conhecidos os planos das concessionárias para financiar projectos do Governo. No âmbito das novas concessões, as operadoras de jogo são obrigadas a apresentarem um plano sobre as actividades que vão apoiar no ano seguinte, no âmbito das exigências de responsabilidade social. O Executivo de Ho Iat Seng tem evitado tornar esses documentos públicos, sendo a informação inexistente. No entanto, nas últimas semanas, foi anunciado pela secretária para os Assuntos Sociais e Cultura, Elsie Ao Ieong U, que as concessionárias vão ser responsáveis pelos projectos governativos de revitalização da zona da Barra, Rua da Felicidade, Ponte-Cais nº 23 e 25, no Porto Interior, a zona perto da Avenida de Alme...

dec24 Macau casino operator SJM Holdings Ltd’s plan to convert a commercial property in Hengqin  into a hotel   could help address the issue of the company’s “undersupplied” inventory in the Macau market, suggested Morgan Stanley Asia Ltd in a Wednesday memo. Though it might be a “strategic” move, it will have “limited impact in near term,” and will make the casino firm’s gearing “higher”, wrote analysts Praveen Choudhary and Gareth Leung. “The government recently announced  multiple entry visas   for residents of Hengqin to come to Macau. This makes it easier to have a hotel in Hengqin and shuttle them to Macau casinos,” said the Morgan Stanley team. That was a reference to the announcement of new measures by China’s State Council that further ease Macau-bound travel rules for residents of neighbouring mainland-China city   https://www.ggrasia.com/sjm-hengqin-deal-strategic-but-limited-impact-analysts/ SJM Resorts’  decision to reconvert an Hengq...