Genting, owned by tycoon Lim Kok Thay, also operates in Las Vegas and Singapore and backed a ski resort in China that hosted this year's Winter Olympics
A company controlled by Malaysian tycoon and Genting chairman Lim Kok Thay has put in a bid for a casino licence in Macau, a surprise challenge to the decades-long oligopoly of the six incumbent operators.
The former Portuguese colony is the only territory in China where casinos are allowed, and issues just six operating concessions for a multibillion-dollar industry that, 메리트카지노 until the pandemic, was bigger than Las
br>/p> Licences for the current operators -- including MGM China, Sands China and Galaxy Entertainment Group -- will expire at the end of the year, and they face plummeting revenues and heightened regulatory scrutiny from Be
br>/p> The six operators all submitted bids by Wednesday to renew their licences but the spotlight was stolen by newcome
br>/p> A GMM representative told reporters that the bid was submitted on behalf of leisure and entertainment firm Genting, according to Macao
br>/p> Best known for its resort in the Malaysian highlands, Genting also operates in Las Vegas and Singapore and backed a ski resort in China that hosted this year's Winter Oly
br>/p> Shares in Macau casino operators fell two percent in Thursday morning trading in Hong Kong, according to Bloomberg Intelli
br>/p> Macau's gaming sector has been battered by pandemic-era restrictions that drove away the mainland Chinese gamblers who make up the vast majority of cust
br>/p> Gross gaming revenue was down 98 percent from pre-pandemic levels and fell to a record low in July, officials earlier anno
br>/p> Chinese President Xi Jinping has spearheaded an anti-corruption campaign that has seen increased scrutiny of the high-rollers and officials who travel to gamble in Macau, where cases of money laundering are c
br>/p> For decades, Macau's gaming industry was run as a monopoly by casino magnate Stanley Ho, but in 2002 more operators were brought in and issued 20-year concessions as part of a liberalisation e
br>/p> In January, authorities slashed the concession period of gaming licences from 20 years to 10 and unveiled regulations seeking to increase local ownership and government superv
br>/p> GMM's bid adds an element of uncertainty to the sector, which had been dominated by the same big players for 우리카