Retendering21-22

 jan23 Zeng Zhonglu, a gaming scholar, has estimated that Macau’s gross gaming revenues could reach up to 70 percent of pre-pandemic levels in 2023, at MOP175.47 billion ($21.84 billion) as the territory aims to rebound from nearly three years of lackluster gaming results under COVID restrictions. Zeng Zhonglu, from the Macao Polytechnic University’s Gaming Research Team, told public broadcaster TDM that “the most difficult time has now passed” and that the economic recession had “bottomed out”. The figure bodes well for Macau’s gaming concessionaires, whose new licenses came into effect on January 1 st , with expectations for increased visitation due to pent-up demand, despite Macau’s health secretary estimating that about half of the population has COVID. Numerous countries, including South Korea, the United States and Australia are now requiring negative nucleic acid test results from arrivals from China, Hong Kong and Macau, which could slightly dampen visitation for those wish...

 jan23 Macau concessionaires announce annual fee to “rent” back casino areas as new 10-year gaming concessions become effective Macau’s six concessionaires will each pay the government a base sum of MOP$750 per square meter of gaming space for the first three years of their new 10-year concessions and MOP$2,500 per square meter for the remaining seven in order to “rent” back the casinos at their respective integrated resorts. In years 2 and 3 the MOP$750 base will be increased in accordance with the Macau average price index, and in years 5 to 10 the MOP$2,500 year 4 base will be similarly indexed. The “utilization fee” as it is referred to by SJM Resorts comes after the casino areas of the concessionaires’ properties were reverted back to the Macau SAR Government upon expiration of their previous 20-year concessions on 31 December 2022. The new 10-year concessions came into effect as of 1 January 2023, with five of the six concessionaires – Galaxy Entertainment Group being the exc...