Wynn Macau Ltd says its operating entity in the Macau casino market has been asked by the local government to pay MOP47.0 million (US$5.8 million) in return for a circa six-month extension on its present gaming concession, which is currently due to expire on June 26.
Wynn Macau Ltd – which runs the Wynn Macau casino resort on the city’s peninsula, and Wynn Palace in the Cotai district – gave the information in its annual report filed to the Hong Kong Stock Exchange.
The city’s six casino operators had already applied to the Macau government for an extension until December 31 of their existing rights, as made feasible by the local authorities. The extension gives time for the Macau government to prepare a new public tender for Macau gaming permits.
Wynn Macau Ltd said in the latest filing that it had submitted its request for temporary extension on March 11.
Macau casino operator Sands China Ltd mentioned in its 2021 report issued recently, it would pay MOP47 million as a condition for its licence to be extended for a further six months, to December 31. It was also asked for a guarantee to cover payments for staff, in the event it did not win a new concession under an eventual new public tender.
source: ggrasia.com
