Новый амбиции казино Suncity Macau

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Macau Casino License Expiration Dilemma Has New Boss, Old Rules

Casino concession expiration in 2022 presents challenges, especially for U.S. licensees, but likely . [+] won’t lead to casino implosions. (AP Photo/Isaac Brekken)

Macau gaming concession expiration remains the elephant in the room for the world’s casino capital. In Beijing earlier this month, Macau’s new Chief Executive-elect Ho Iat Seng paraded the elephant around the room and gave those worrying about the 2022 expiration, especially U.S. licensees Las Vegas Sands, MGM Resorts and Wynn Resorts (via local subsidiaries), more to worry about. Beyond intermittent stomping and trumpeting, experts suggest Macau’s concession retendering will turn out the way you’d logically expect for licensees that have increased casino revenue more than ten-fold and turned Macau into one of the richest places on earth. There may be plot twists, but the outcome will align with abiding principles powerful enough to override political tides.

In Beijing to formalize his selection as Macau’s third chief executive, Ho warned against the dangers of foreign influence. Referring to ongoing protests in Hong Kong and the «one country, two systems» principle that guides relations between mainland China and the two restored ex-colonies, Ho declared, “We won’t allow foreign influences to have a hand in Macau’s affairs.”

Foreign companies headed by outsiders hold all six Macau gaming licenses; three of them have roots in Hong Kong, making them part of the same one country as Macau. In this time of trade war between the world’s two largest economies and mainland authorities pushing the meme that America is behind Hong Kong protests, being one of those three U.S. company that needs Beijing’s approval to continue its multibillion-dollar business on Chinese soil beyond 2022 seems like a good reason to sweat. But things are rarely that simple in Macau.

Billions invested by American and Hong Kong casino concession holders has transformed Macau from an . [+] economic basket case to virtual full employment and overflowing government coffers.

At this year’s International Association of Gaming Advisors Best Practices Institute during G2E Asia, a cross-section of Macau gaming professionals provided insights on concession expiration, a process with global import that remains grounded in local realities.

“With 39% of revenue, Macau is the biggest gaming stakeholder,” MdME Laywers partner Rui Pinto Proenca says, citing the territory’s gaming tax rate. Ending the casino monopoly has lifted Macau from economic stagnation to virtual full employment and overflowing government coffers.

Above all Beijing wants a chief executive that won’t make waves. “Macau has been a success story. I don’t expect any change from Mr Ho,” attorney Pedro Cortes, a senior partner at Rato, Ling, Lei & Cortes, says. But there is a legal catch.

Macau transformed three casino concessionaires into six through the dubious legal device of a subconcession. In order to offer more than three concessions in the next tender, Macau needs to amend the gaming law or pass a new one. Ho, who is not related to former chief executive Edmund Ho or SJM Holdings founder Stanley Ho, says the outgoing government of Fernando Chui Sai-on and his new team are drafting the needed amendment to enable retendering to take place ahead of the 2022 expiration date for all six licensees. But because Macau passes very few laws per year, Cortes says, “I expect concession extensions to 2027,” a move allowed under the current law.

Pansy Ho’s cross holdings could facilitate a casino concession shuffle. (Anthony Kwan/Bloomberg)

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© 2020 Bloomberg Finance LP

With good times rolling, there appears little appetite to lower the total of concessions and subconcessions from the current six. There are Macau stakeholders seeking concessions including former legislator David Chow’s Macau Legend Development, which runs so-called satellite casinos under SJM Holdings’ concession, other SJM satellite casino operators and perhaps leading junket promoter Suncity Group, chaired by Macau native Alvin Chau, with management contracts and ownership stakes in casinos overseas. (A Suncity spokesperson says, “So far, we do not have a clear direction yet in regards to pursuing a gaming concession in Macau.”)

Additional concessions pose “the billion dollar question–several billion dollars question,” University of Macau gaming expert Desmond Lam says. He favors maintaining the current mix.

Expanding the number of concessions could displease Beijing, which regularly urges Macau to diversify its economy. Cortes points out there is room for merging concessions, since Galaxy Entertainment has a stake in Wynn Resorts and MGM China cochair Pansy Ho, Stanley Ho’s daughter, has attained boardroom control of SJM. Macau authorities could consolidate the linked companies under one concession, creating space for a new concessionaire without increasing, or even decreasing, the number of concessions.

Gaming consultant 2NT8 managing director Alidad Tash says. “It’s not about what is good for Macau, but what is politically expedient.”

Macau politicians also seek the path of least resistance. Casino owners must ensure that canceling the license of a multibillion-dollar investor with thousands of local employees doesn’t become the easiest road to follow.

Casino concession expiration in 2022 presents challenges, especially for U.S. licensees, but likely . [+] won’t lead to casino implosions. (AP Photo/Isaac Brekken)

Macau gaming concession expiration remains the elephant in the room for the world’s casino capital. In Beijing earlier this month, Macau’s new Chief Executive-elect Ho Iat Seng paraded the elephant around the room and gave those worrying about the 2022 expiration, especially U.S. licensees Las Vegas Sands, MGM Resorts and Wynn Resorts (via local subsidiaries), more to worry about. Beyond intermittent stomping and trumpeting, experts suggest Macau’s concession retendering will turn out the way you’d logically expect for licensees that have increased casino revenue more than ten-fold and turned Macau into one of the richest places on earth. There may be plot twists, but the outcome will align with abiding principles powerful enough to override political tides.

In Beijing to formalize his selection as Macau’s third chief executive, Ho warned against the dangers of foreign influence. Referring to ongoing protests in Hong Kong and the «one country, two systems» principle that guides relations between mainland China and the two restored ex-colonies, Ho declared, “We won’t allow foreign influences to have a hand in Macau’s affairs.”

Foreign companies headed by outsiders hold all six Macau gaming licenses; three of them have roots in Hong Kong, making them part of the same one country as Macau. In this time of trade war between the world’s two largest economies and mainland authorities pushing the meme that America is behind Hong Kong protests, being one of those three U.S. company that needs Beijing’s approval to continue its multibillion-dollar business on Chinese soil beyond 2022 seems like a good reason to sweat. But things are rarely that simple in Macau.

Billions invested by American and Hong Kong casino concession holders has transformed Macau from an . [+] economic basket case to virtual full employment and overflowing government coffers.

At this year’s International Association of Gaming Advisors Best Practices Institute during G2E Asia, a cross-section of Macau gaming professionals provided insights on concession expiration, a process with global import that remains grounded in local realities.

“With 39% of revenue, Macau is the biggest gaming stakeholder,” MdME Laywers partner Rui Pinto Proenca says, citing the territory’s gaming tax rate. Ending the casino monopoly has lifted Macau from economic stagnation to virtual full employment and overflowing government coffers.

Above all Beijing wants a chief executive that won’t make waves. “Macau has been a success story. I don’t expect any change from Mr Ho,” attorney Pedro Cortes, a senior partner at Rato, Ling, Lei & Cortes, says. But there is a legal catch.

Macau transformed three casino concessionaires into six through the dubious legal device of a subconcession. In order to offer more than three concessions in the next tender, Macau needs to amend the gaming law or pass a new one. Ho, who is not related to former chief executive Edmund Ho or SJM Holdings founder Stanley Ho, says the outgoing government of Fernando Chui Sai-on and his new team are drafting the needed amendment to enable retendering to take place ahead of the 2022 expiration date for all six licensees. But because Macau passes very few laws per year, Cortes says, “I expect concession extensions to 2027,” a move allowed under the current law.

Pansy Ho’s cross holdings could facilitate a casino concession shuffle. (Anthony Kwan/Bloomberg)

© 2020 Bloomberg Finance LP

With good times rolling, there appears little appetite to lower the total of concessions and subconcessions from the current six. There are Macau stakeholders seeking concessions including former legislator David Chow’s Macau Legend Development, which runs so-called satellite casinos under SJM Holdings’ concession, other SJM satellite casino operators and perhaps leading junket promoter Suncity Group, chaired by Macau native Alvin Chau, with management contracts and ownership stakes in casinos overseas. (A Suncity spokesperson says, “So far, we do not have a clear direction yet in regards to pursuing a gaming concession in Macau.”)

Additional concessions pose “the billion dollar question–several billion dollars question,” University of Macau gaming expert Desmond Lam says. He favors maintaining the current mix.

Expanding the number of concessions could displease Beijing, which regularly urges Macau to diversify its economy. Cortes points out there is room for merging concessions, since Galaxy Entertainment has a stake in Wynn Resorts and MGM China cochair Pansy Ho, Stanley Ho’s daughter, has attained boardroom control of SJM. Macau authorities could consolidate the linked companies under one concession, creating space for a new concessionaire without increasing, or even decreasing, the number of concessions.

Gaming consultant 2NT8 managing director Alidad Tash says. “It’s not about what is good for Macau, but what is politically expedient.”

Macau politicians also seek the path of least resistance. Casino owners must ensure that canceling the license of a multibillion-dollar investor with thousands of local employees doesn’t become the easiest road to follow.

As editor at large for Inside Asian Gaming following nearly a decade as a special correspondent for Macau Business magazine, I cover the casino business in Macau an.

As editor at large for Inside Asian Gaming following nearly a decade as a special correspondent for Macau Business magazine, I cover the casino business in Macau an.

Hong Kong’s Suncity to operate Philippine casino-resort

MANILA (Reuters) — Hong Kong’s Suncity Group Holdings Ltd ( 1383.HK ) unveiled plans on Tuesday to enter the fast-growing Philippines gambling market, with a deal to operate a casino and resort in the country’s version of the Las Vegas gaming strip.

The deal marks the Hong Kong group’s first step in tapping Manila’s gaming industry, which has grown rapidly over the past decade, attracting foreign entrants and generating tax revenue.

Suncity sa >SUN.PS ), which plans to co-develop and then manage and operate a five-star hotel and casino in Manila.

“Outside of Macau the most decent city for gaming is Manila because of the scale, three international brands and facilities, airport. Quite convenient,” Andrew Lo, executive director at Suncity, told Reuters.

Alvin Chau, the founder of Suncity, has grown the company from operating a high roller table in Wynn Macau’s casino in 2007 to a sprawling conglomerate with businesses ranging from property to autos and thousands of employees.

In a separate statement, Suntrust said it signed a deal to develop and exclusively operate the main hotel casino portion of an integrated resort in the capital. Suntrust would operate the casino and a hotel with at least 400 rooms, around 400 gaming tables and 1,200 slot machines for both mass market and high rollers.

Shares in Suntrust were suspended from trading on Tuesday. Its shares surged 37% on Monday.

Suntrust will lease the site for the casino-hotel from the developers of the larger Wests >0678.HK ), which will also include a retail center and residential apartments.

As of end-June, the Westside developers had spent 96.5 billion Philippine pesos ($1.89 billion) on the project that will start operations before 2023.

Philippines’ gross gaming revenues rose 14% to 120.48 billion pesos ($2.36 billion) in the first half, government data showed.

The industry includes 10 private casino firms operating 1,785 gaming tables and 10,799 electronic gaming machines, according to government data. The state gaming regulator Pagcor also operates several casinos totaling 477 tables and 9,751 gaming machines.

Suncity’s acquisition of Suntrust is subject to regulatory checks.

Reporting by Neil Jerome Morales in Manila and Farah Master in Hong Kong; editing by Richard Pullin

Suncity присоединяется к Manila Casino Resort для развития на Филиппинах

Suncity Group Holdings Ltd. сообщила во вторник о планах застройщика и оператора казино из Гонконга воспользоваться возможностями быстро растущей индустрии казино на Филиппинах.

В заявлении на Гонконгской фондовой бирже компания заявила, что приобрела контрольный пакет акций филиппинской компании Suntrust Home Developments, которая ранее объявила о планах совместного развития и эксплуатации курортного комплекса с казино в Маниле.

В столице Филиппин уже есть четыре интегрированных курорта, которыми управляют одни из крупнейших азиатских игровых и гостиничных компаний.

Комментируя свое решение о выходе на филиппинский рынок наземных казино, исполнительный директор Suncity Эндрю Ло (Andrew Lo) заявил:

За пределами Макао самым приличным городом для азартных игр является Манила из-за масштаба трех международных брендов и аэропорта. Это довольно удобно.

Тремя международными операторами курортов казино, о которых упоминал Ло в своих комментариях являются:

  • Дочерняя компания малазийского гиганта казино Genting Group,
  • японская Okada Holdings,
  • Macau Melco Resorts & Entertainment.

Проект курорта с казино

В отдельном заявлении Suntrust, компания Suncity купила контрольный пакет акций, говорится, что она подписала соглашение о разработке и эксклюзивном управлении частью основного отеля и казино запланированного интегрированного курорта в Маниле.

В рамках сделки Suntrust будет управлять гостиницей на 400 номеров и казино с около 400 игровыми столами и 1200 игровыми автоматами. Игорное заведении будет предназначено как для игроков массового рынка, так и для крупных клиентов.

Курорт с казино Suntrust в Маниле станет частью более крупного проекта Westside City Resorts World. Компания арендует права на эту деятельность у Westside City Resorts World Inc. и Travelers International Hotel Group Inc., совместного предприятия филиппинского конгломерата Alliance Global Group Inc. и Genting Group Genting Hong Kong Ltd., которая также в настоящее время управляет курортом с казино Resorts World Manila в филиппинской столице.

По состоянию на 30 июня 2020 года разработчики курорта Westside потратили 96,5 миллиардов филиппинских песо (около 1,9 млрд долларов) на основную схему. Ожидается, что отель откроет двери к 2023 году.
Suncyty нужно одобрение Philippine Securities and Exchange Commission, чтобы иметь возможность присоединиться к проекту курорта с казино.

Расширение Suncity в Японии

Помимо заинтересованности в том, чтобы выйти в процветающую индустрию азартных игр Филиппин, Suncity также активизировала подготовку к участию в тендере на получение игорной лицензии, которая позволила бы оператору выйти на зарождающийся рынок казино Японии.

Ранее на этой неделе компания объявила, что заключила партнерское соглашение с международной архитектурной фирмой Aedas, чтобы выдвинуть предложение по созданию интегрированного курорта в японской префектуре Вакаяма. В заявлении Suncity говорится:

Мы хотим создать уникальный проект, объединяющий исторические традиции префектуры Вакаяма, природный ландшафт и культурную сущность.

В компании добавили, что у них есть «четкое понимание значения интегрированных курортов», что позволит и использовать свои ресурсы, и «представить миру разнообразие Вакаямы».

Рейтинг казино по сумме бонусов за депозит:
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  • Чемпион
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    Казино на русском языке с большими бонусами за депозиты

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