The chief executive of casino operator MGM China Holdings Ltd, Grant Bowie, has said a report that the government may shorten the casino concessions when they come up for renewal after 2020 has “no real substance”. This week the Hong Kong Economic Journal quoted an unidentified source as saying the government was considering limiting renewed concessions to five years. Mr Bowie said: “I think it’s just a misunderstanding.” Speaking during a conference call, he said: “The chief executive does have the prerogative to be able to extend any concession – not just gaming concessions, but any concessions – for an additional five years.” “There is no change. Nothing is altered,” he added.
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