Macau Casino Extensions Leave Big Questions Unanswered [Forbes]
MGM Resorts International (MGM)
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Source: Forbes
Macau Casino Extensions Leave Big Questions Unanswered Stanley Ho-founded SJM Holidings received an extension to its casino concession to operate the original Casino Lisboa (foreground) and Grand Lisboa. Getty Macau has finally taken a first step toward acting responsibly on gaming concession expirations, though the major items concerning expiration remain absolutely unclear. On Friday, the government announced it has extended the concession of SJM Holdings and subconcession of MGM China to June 26, 2022 Concessions for SJM and MGM were due to expire in March of next year, and the extension virtually eliminates the possibility that SJM’s concession could expire before it opens much delayed US$4.6 billion Grand Lisboa Palace in Cotai, now scheduled to open late this year. Ironically, first to expire SJM and MGM, which opened MGM Cotai in February last year, are the last concessionaires to establish Cotai outpost s. T been widely expected, though the announcement timing is a surprise. S
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