The Co-Chairman and Chief Executive Officer of Macau Legend Development Ltd – Mr. David Chow Kam Fai – demanded from the Macau government to make the gaming market in the administrative region accessible to new investors.
According to Mr. Chow, who represents the casino services company, the scrutiny over the casino concessions right before the renewal process should be a key factor that leads to providing local companies with more gaming licenses.
In addition, the Co-Chairman and Executive of Macau Legend said that the government of Macau has to be more flexible to the requirements of the market, which needs to become more competitive, instead of taking care of the current six operators only.
Mr. Chow, who is also a former legislator in Macau, shared in an interview for reputable media on the sidelines of the company’s new Harbourview Hotel’s opening: “The government should encourage the development of local businesses”. Mr. Chow also shared his point of view that the region’s government should allow companies which have a massive contribution to Macau’s development to get a gaming licence.
The opening of the 444-room Harbourview Hotel of Macau Legend is regarded as part of the waterside development of the peninsula and took place on February 2nd. The interview of Mr. Chow was cited by local media that considered his statement a reference to companies which currently hold gaming licence provided by one of the already existing six concessionaires to manage their casino operations.
Currently, Macau Legend operates a total of two casinos located in the region. It holds control over the Babylon Casino located at Macau Fisherman’s Wharf and the Pharaoh’s Palace Casino located at the Landmark Hotel under the gaming licence of SJM Holdings Ltd.
According to a report complied by Macau Legend, which was made public in October last year, the company had a total of 150 gaming tables in its two casinos as of the end of September 2014. Another 35 gaming tables were added by the company to its Babylon casino.
The years 2015 and 2016 has been considered by the government of Macau as starting points of some negotiations concerning the recurrence of the six gaming concessionaires that already operate on the territory of the China’s administrative region. The expiration dates for the concessionaires’ current licenses are set for 2020 and 2022, respectively.
In January 2015, Lionel Leong Vai Tac, who is the Secretary for Economy and Finance of Macau, shared the intentions of the region’s government to conduct a “mid-term review” of the gaming industry within 2015.
