Secretary for Economy and Finance Francis Tam Pak Yuen has hinted that negotiations on the renewal of gaming concession contracts could be brought forward to 2015. Mr Tam said the government could negotiate shorter, five-year contracts, longer contracts or auction casino licences publicly. He did not say when the negotiations could be concluded. The licences of gaming concessionaire SJM Holdings Ltd and sub-concessionaire MGM China Holdings Ltd expire in 2020. Licences of the other concessionaires and sub-concessionaires expire two years later. “We continue to believe that the existing six gaming concessionaires and sub-concessionaires will remain the only six licensed gaming operators,” Union Gaming Research says in a note. The research house says it is “exceedingly unlikely” the licences will be auctioned.
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