Macao casino relicensing occurring as region recovers from shutodown of properties
Macao's government wants to build theme parks, theme hotels, water parks and other family attractions as a condition of relicensing. The government also wants casino companies to develop nearby Hengqin Island. New law bumps the gaming tax up from 39 percent to 40 percent. There is a tax break for attracting foreign visitors to the area. The Chinese central government will have a seat at the table on all strategic plans. It will also have an eye on any potential changes on the horizon. Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resort International are confident they will be successful in the relicensed process.
