Genting unit short-listed in Macau casino bid
MACAU Star Ltd, the vehicle through which Genting Bhd is bidding for one of the three casino licences being offered by the Macau government, has been recalled along with eight other contenders to explain their investment plans for the territory.
The recall by Macau’s Gaming Concession Tender Committee is seen by analysts as a further shortlisting of the 18 bidders who had presented their proposals to the panel a week ago.
The nine companies not recalled to further explain their plans are deemed as “not being considered by the committee at the moment for the three licences,” according to a source familiar with the tendering process.
The eight other companies “shortlisted” to make further explanations are Grand Macau Gaming Ltd, MGM Mirage Macao, Asian American Entertainment Corp Ltd, casino Malaysia de Jogos de Macau SA, Lucky 9 Casino Corp Ltd, Sun Entertainment Holding Company Ltd, Wynn Resort (Macau) Ltd and MP Entertainment Company Ltd.
According to a statement from the Macau government, Macau Star is due to make its new presentation today.
Grand Macau Gaming, MGM Mirage Macao, Asian American Entertainment Corp and local tycoon Stanley Ho’s Sociadade de Jogos de Macau made their presentations yesterday.
Local media reported that Macau Star’s first presentation, made last week by Genting managing director Datuk K.T. Lim, had impressed the tender committee as it encompassed a total resort development plan.
The investment plans put forward by the 18 bidders had included the construction of a 60km bridge between Hong Kong and Macau, a 6,000-room hotel, a giant Ferris wheel, special resorts and theme parks such as an artificial snow skiing complex, and huge amusement and convention centres.
According to an Apple Daily report on Monday, the nine companies that have not been recalled are mostly owned by Hong Kong investors.
The Chinese-language daily reported that these companies either did not have any experience in operating a casino or did not have sufficient financial capabilities to fund their proposals.
The report also noted that those recalled by the tender committee were joint-venture companies between Macanese individuals or firms and well-known international operators of casinos.
Macau’s Government Secretary for Economy and Finance, Francis Tam Pak Yuen, who chairs the committee, had said that experience in operating a casino was an important criterion in getting the concession which would have a maximum duration of 25 years. The three winners are to be announced in three weeks’ time. The Macau government launched the bidding process on Nov 2. There were originally 21 bidders, but the number was reduced to 18 at the end of December.
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