Look for Drawn-Out Rebidding in Macau

Union Gaming analyst Grant Govertsen says the rebidding process for casino concessions in Macau is likely to go beyond the current timeframe of 2020 through 2022. He offers as proof the delays in local bus concession negotiations. He says the first two concessions—SJM and MGM—that expire in 2020 will be extended until 2022 to coincide with the expiration of the remaining concessions. MGM just completed its Cotai property (l.) this year.