{"id":186613,"date":"2021-09-23T01:55:42","date_gmt":"2021-09-23T08:55:42","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=186613"},"modified":"2021-09-23T14:08:27","modified_gmt":"2021-09-23T21:08:27","slug":"sjm-resorts-expects-macau-slash-casino-concession-terms","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/","title":{"rendered":"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half"},"content":{"rendered":"

Officials at SJM Resorts believe all six casino operators currently doing business in China’s Macau will receive fresh tenders in 2022. But the company thinks the coveted gaming permits will run for a shorter interval than previously experienced.<\/p>\n

\"SJM
The lobby of Grand Lisboa Palace on the Macau Cotai Strip, seen above. The casino’s parent, SJM Resorts, believes the company will receive a new gaming license from Macau authorities in the coming months that will be good for 10 years. (Image: GGRAsia<\/em>)<\/figcaption><\/figure>\n

When Macau ended Stanley Ho’s monopoly on casino gambling after the territory was returned from Portugal to China in 1999, the welcoming of new gaming operators came with 20-year operating privileges.<\/p>\n

\n

After a lengthy review process in 2002, SJM, as well as newcomers Galaxy Entertainment and Wynn Resorts, were issued gaming rights that ran for 20 years. Las Vegas Sands, MGM Resorts, and Melco Resorts later gained market entry by receiving sub-concessions from the three full licensees.<\/p>\n<\/div>\n

Macau is currently amid an in-depth review of its gaming industry, which includes determining the future of its casino market and the number of operators allowed.<\/p>\n

SJM Resorts, formerly SJM Holdings, is the casino empire of the late Ho. The company opined this week that it expects the six current concession holders to receive new 10-year operating rights that will allow them to continue doing business in the Chinese Special Administrative Region through 2032.<\/p>\n

Six Licenses, One Decade<\/b><\/h2>\n

Macau lawmakers are working with the SAR’s Gaming Inspection and Coordination Bureau to determine how the 2022 licensing will play out. The enclave is currently amid a 45-day consultation period<\/a> that involves a variety of stakeholders, including the casinos, investors, general public, and Beijing.<\/p>\n

Rumblings suggesting vast changes to Macau’s gaming industry led to casino stocks invested in the region losing tens of billions of dollars in market valuation last week. But with SJM Resorts, as well as some analysts — one being Sanford C. Bernstein — forecasting new permits for all six operators, some of the worry has been eased.<\/p>\n

SJM, the oldest gaming company in Macau, told Goldman Sachs that a 10-year term is “a reasonable length” for the next tenure. Company reps reasoned that Macau will take a page out of Singapore’s gaming industry playbook.<\/strong><\/p>\n

Singapore is often credited as perfecting the integrated resort business. Its casino duopoly is held by Sands and Malaysia’s Genting Group. Prior to the pandemic, Sands and Genting received 10-year licensing extensions in Singapore in exchange for each firm promising to invest at least $3.3 billion into their respective gaming resort properties.<\/p>\n

Good News for Stocks\u00a0<\/b><\/h2>\n

It’s becoming more and more likely that the Macau six will remain<\/a> in the region long after 2022. That has led to the casino stocks recouping some of last week’s losses.<\/p>\n

\n

After a week where the six companies lost a combined $18 billion in market capitalization, shares of the Hong Kong-listed companies collectively climbed 4.3 percent on Tuesday. They made further gains on Wednesday.<\/p>\n<\/div>\n

MGM China was up 3.8 percent Wednesday, while Galaxy Entertainment climbed 3.2 percent, Sands China 3.1 percent, Melco 2.5 percent, SJM 2.2 percent, and Wynn 1.9 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Officials at SJM Resorts believe all six casino operators currently doing business in China’s Macau will receive fresh tenders in 2022. But the company thinks the coveted gaming permits will run for a shorter interval than previously experienced. When Macau ended Stanley Ho’s monopoly on casino gambling after the territory was returned from Portugal to […]<\/p>\n","protected":false},"author":25,"featured_media":186627,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13592],"tags":[],"acf":[],"yoast_head":"\nSJM Resorts Expects Macau to Slash Casino Concession Terms in Half<\/title>\n<meta name=\"description\" content=\"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half\" \/>\n<meta property=\"og:description\" content=\"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-23T08:55:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-23T21:08:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/\",\"url\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/\",\"name\":\"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg\",\"datePublished\":\"2021-09-23T08:55:42+00:00\",\"dateModified\":\"2021-09-23T21:08:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg\",\"width\":1200,\"height\":800,\"caption\":\"SJM Resorts Macau casino resort\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Regulation\",\"item\":\"https:\/\/www.casino.org\/news\/regulation\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\",\"name\":\"Devin O'Connor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"caption\":\"Devin O'Connor\"},\"description\":\"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/devinoconnor\/\",\"https:\/\/x.com\/CasinoorgDevinO\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half","description":"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half","og_description":"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.","og_url":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-09-23T08:55:42+00:00","article_modified_time":"2021-09-23T21:08:27+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg","type":"image\/jpeg"}],"author":"Devin O'Connor","twitter_card":"summary_large_image","twitter_creator":"@CasinoorgDevinO","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Devin O'Connor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/","url":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/","name":"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg","datePublished":"2021-09-23T08:55:42+00:00","dateModified":"2021-09-23T21:08:27+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf"},"description":"Officials at SJM Resorts believe all six casino operators currently doing business in China's Macau will receive fresh tenders in 2022.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/Grand-Lisboa-Palace-hotel-lobby.jpeg","width":1200,"height":800,"caption":"SJM Resorts Macau casino resort"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/sjm-resorts-expects-macau-slash-casino-concession-terms\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Regulation","item":"https:\/\/www.casino.org\/news\/regulation\/"},{"@type":"ListItem","position":3,"name":"SJM Resorts Expects Macau to Slash Casino Concession Terms in Half"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf","name":"Devin O'Connor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","caption":"Devin O'Connor"},"description":"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.","sameAs":["https:\/\/www.linkedin.com\/in\/devinoconnor\/","https:\/\/x.com\/CasinoorgDevinO"],"url":"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/186613"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=186613"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/186613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/186627"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=186613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=186613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=186613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}