{"id":100672,"date":"2019-03-15T15:50:14","date_gmt":"2019-03-15T22:50:14","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=100672"},"modified":"2019-03-15T15:50:14","modified_gmt":"2019-03-15T22:50:14","slug":"mgm-sjm-secure-macau-casino-license-extensions-until-2022","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/","title":{"rendered":"MGM, SJM Secure Macau Casino License Extensions Until 2022, Markets Rejoice"},"content":{"rendered":"

MGM China Holdings<\/a> and SJM Holdings<\/a> have been granted two-year extensions to their Macau casino licenses, bringing the two operators in line with the gambling hub\u2019s four other main licensees. All six gaming concessions will now expire together in the summer of 2022. Both companies will pay a one-off fee of $25 million for the privilege.<\/p>\n

\"Macau
MGM China began life in Macau as a sub-concessionaire of SJM, which received a shorter license term because it had been established in Macau for decades. All licenses will be up for review in 2022, but analysts believe the deadline could be extended. (Image: MGM China)<\/figcaption><\/figure>\n

Macau government officials said Friday the move was designed to maintain “social stability and job security” and would benefit their preparatory work to launch the next public tender to grant new licenses.<\/p>\n

Markets were buoyed by the news. While SJM and MGM shares were both suspended on the Hong Kong Stock Exchange on Friday, Melco\u2019s stock climbed 4.7 percent on the news, while Galaxy Entertainment gained 4 percent, Wynn Macau 3.3 percent, and Sands China 2.3 percent.<\/p>\n

Markets Hate Uncertainty<\/strong><\/h2>\n

Investors have been unsure what to make of the impending license renewal period, simply because there has never been one before and Macau officials have been slow to explain how the process might play out.<\/p>\n

Licenses were awarded during a complex, opaque process in 2002, three years after the enclave had seceded from Portuguese rule. Prior to Macau opening its gaming market to foreign operators, SJM had held a monopoly for decades. Thus, it received an 18-year license because it had a headstart on its new competitors.<\/p>\n

MGM China — a joint venture between MGM Resorts International and Pansy Ho, daughter of SJM founder Stanley Ho — was a sub-licensee and piggy-backed onto the SJM license.<\/p>\n

\n

But the news that the Macau government is intent on preserving \u201csocial stability\u201d — and therefore continuity — has reassured investors, assuaging probably unfounded fears that Macau\u2019s US operators could become collateral damage in the US trade war with China.<\/p>\n<\/div>\n

Sands China, Wynn Macau and MGM China are either wholly or partly owned by US interests.<\/p>\n

Big Six Staying Put<\/strong><\/h2>\n

Union Gaming Analyst Grant Govertsen said in a note Friday he believes the relicensing process will extend beyond 2022, but the \u201cbig six\u201d will remain in Macau. Concessions can be extended by the government for up to five years.<\/p>\n

\u201cAt some point in 2020 the new government and the legislature will begin studying the concessions in earnest, but will likely need a few years to come to any conclusions,\u201d he predicted.<\/p>\n

\u201cAt some point towards the middle of the next decade the rebid process will commence \u2026 we also expect a seventh (or eighth) concession could materialize, in part to clean up the service provider casino construct.\u201d<\/p>\n

Currently, dozens of smaller casinos operators are permitted to piggyback onto the licenses of the main concessionaires as \u201cservice providers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM China Holdings and SJM Holdings have been granted two-year extensions to their Macau casino licenses, bringing the two operators in line with the gambling hub\u2019s four other main licensees. All six gaming concessions will now expire together in the summer of 2022. Both companies will pay a one-off fee of $25 million for the […]<\/p>\n","protected":false},"author":36,"featured_media":100674,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18,61,13592],"tags":[],"acf":[],"yoast_head":"\nMGM, SJM Secure Macau Casino License Extensions Until 2022<\/title>\n<meta name=\"description\" content=\"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.\" \/>\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=\"MGM, SJM Secure Macau Casino License Extensions Until 2022\" \/>\n<meta property=\"og:description\" content=\"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/\" \/>\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=\"2019-03-15T22:50:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/\",\"name\":\"MGM, SJM Secure Macau Casino License Extensions Until 2022\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg\",\"datePublished\":\"2019-03-15T22:50:14+00:00\",\"dateModified\":\"2019-03-15T22:50:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg\",\"width\":1000,\"height\":450,\"caption\":\"MGM China began life in Macau as a sub-concessionaire of SJM, which received a shorter license term because it had been established in Macau for decades. All licenses will be up for review in 2022, but analysts believe the deadline could be extended. (Image: MGM China)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"MGM, SJM Secure Macau Casino License Extensions Until 2022, Markets Rejoice\"}]},{\"@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\/58769b72851c8cf117fb58ca150ebf8b\",\"name\":\"Philip Conneller\",\"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-5-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png\",\"caption\":\"Philip Conneller\"},\"description\":\"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/philip-conneller\",\"https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk\",\"https:\/\/x.com\/casinoorgphilc\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MGM, SJM Secure Macau Casino License Extensions Until 2022","description":"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"MGM, SJM Secure Macau Casino License Extensions Until 2022","og_description":"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.","og_url":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-03-15T22:50:14+00:00","og_image":[{"width":1000,"height":450,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg","type":"image\/jpeg"}],"author":"Philip Conneller","twitter_card":"summary_large_image","twitter_creator":"@casinoorgphilc","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Philip Conneller","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/","url":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/","name":"MGM, SJM Secure Macau Casino License Extensions Until 2022","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg","datePublished":"2019-03-15T22:50:14+00:00","dateModified":"2019-03-15T22:50:14+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b"},"description":"MGM China and SJM holdings will pay $25 million each to extend their Macau casino licenses until 2022. The news reassured investors about a process that is largely cloacked in mystery.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/03\/mgm-china.jpg","width":1000,"height":450,"caption":"MGM China began life in Macau as a sub-concessionaire of SJM, which received a shorter license term because it had been established in Macau for decades. All licenses will be up for review in 2022, but analysts believe the deadline could be extended. (Image: MGM China)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/mgm-sjm-secure-macau-casino-license-extensions-until-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"MGM, SJM Secure Macau Casino License Extensions Until 2022, Markets Rejoice"}]},{"@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\/58769b72851c8cf117fb58ca150ebf8b","name":"Philip Conneller","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-5-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-5-1-96x96.png","caption":"Philip Conneller"},"description":"In Philip Conneller\u2019s eight years with Casino.org, he has covered the gaming industry from Las Vegas to Macau and everything in between. He currently focuses his coverage on gaming law, white-collar crime, global money laundering, tribal gaming, politics, and regulation. Philip was the original features editor for poker\u2019s Bluff Magazine and editor for Bluff Europe, which he helped launch. His writing has also been featured in ESPN, Forbes, Time Out, The Sun, and The Daily Star, as well as iGaming Business, eGaming Review, and numerous other industry news and tech websites. His news stories for Casino.org\/news have been linked by The Washington Post, The Daily Mail, People Magazine, and Jimmy Fallon's Tonight Show, among many others. Philip once won $20,000 with 7-2 off-suit. He has been reprimanded for unwittingly playing Elton John\u2019s piano on two separate occasions on both sides of the Atlantic. He became a writer because he is a lousy pianist. Philip lives outside London with his wife and children, where he spends his time agonizing about Arsenal FC. Contact Philip at philip.conneller@casino.org.","sameAs":["https:\/\/muckrack.com\/philip-conneller","https:\/\/www.linkedin.com\/in\/philip-conneller-1495a48\/?originalSubdomain=uk","https:\/\/x.com\/casinoorgphilc"],"url":"https:\/\/www.casino.org\/news\/author\/phillip-conneller\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/100672"}],"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\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=100672"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/100672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/100674"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=100672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=100672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=100672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}