Last July, Macau made an invitation to all global gambling operators to submit their bid for a casino license. According to casino websites, they had until September 14, 2022 by 5.45pm, Macau time to submit their proposal. Of course, all of the current Macau license holder sent in their bid. However, there was a surprise entry as Genting Group Submits Bid for Macau Gaming Concession.
Most gambling A few hours before the deadline, a company under the name GMM made a last-minute submission to the bidding committee. Interestingly enough, this came as a surprise to most gambling analyst. This is because they did not think any company would want to compete with the big 6 of Macau.
Genting Group Submits Bid for Macau Gaming Concession via GMM
According to online gambling South Korea news, the surprise entry, GMM Limited was under the representation of a Mrs. Chen. She came to submit her company’s bid with 2 large carboard boxes containing the documents necessary for her bid. In addition, Bruno Nunes, a well-known lawyer in Macau was also with her.
Afterwards, during a press interview she made a confirmation regarding their association with the Genting Group in Malaysia. She said that the person in charge from Genting Malaysia is Lim Kok Thay. However, he was unable to come due to the pandemic.
She did say that they are confident in the Genting Group bid because of their large global presence. This is because Genting Bhd operates US$4.6 billion Resorts World Las Vegas. Furthermore, they are a majority owner in both Genting Malaysia and Genting Singapore, operator of Resorts World Sentosa.
As the biggest gambling hub in the world, Macau makes 6 times the revenue of Las Vegas. For this reason, being able to operate there can lead to a lot of profit for any casino. However, the new gaming legislation only allows up to six gaming concessions. Coincidentally (or not) that number equals the current number of operators in Macau.
The current gaming license holders in Macau are: Sands China, Wynn Macau, MGM China, Galaxy Entertainment, SJM Holdings and Melco Resorts. Each of them has already put in their bid for a Macau Gaming Concession.
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