Macau licensing move for Wynn Macau Limited
Wynn Macau Limited has applied for a new ten-year license to continue offering gambling entertainment at its two Macao properties until the end of 2033. The company is majority-owned by American casino operator Wynn Resorts Limited.
Macau is home to almost 40 casinos run by a sextuplet. The original gambling licenses expire in late-June, but they were allowed to purchase special six-month extensions that will terminate on December 31.
Wynn Macau Limited has applied for one of the new ten-year gambling licenses. The five remaining operators are thought to be keen on following suit. They have until tomorrow to formally submit their bids.
Wilfred Wong, the President for Sands China Limited, declared in an official filing that his company will submit a new bid to the government of Macau before the deadline.
Wynn Macau Limited made a first-half loss of $458.45 million. The company's gambling revenues dropped 58% year-on-year to $282.71 million due to China's continuing devotion to a range of coronavirus-related travel restrictions and an associated eleven-day shutdown. Wynn Resorts SA submitted a tender to the Macao government on September 13, 2022 for the award of a ten-years gaming contract.