Macau’s Secretary for Economy and Finance Francis Tam says there “should be no increase” in the number of gaming concessions when those concessions come up for renewal in 2020 and 2022.
Speaking as part of the territory’s delegation to the annual meeting of the Chinese People’s Political Consultative Conference in Beijing, Tam said also that the government has not decided on the terms of the renewals for the six licenses.
Local media have speculated the renewals could be as short as five years, although the government has refused to issue a definitive statement on the terms and industry leaders and observers discount the possibility. Current law stipulates only that concessions may not be granted for more than 20 years.
“The government has no stance on this matter,” Tam said.
He added that priorities for the government going forward will be the continued viability of local non-gaming businesses and programs to ensure more Macau residents rise into positions of casino management.
