Seven satellite casinos in Macau, accounting for around 40% of the industry, are expected to close by the summer as a result of tighter visa application regulations, lower cash flow, and the ongoing effects of the epidemic.
Macau features a total of 18 satellite casinos, 14 of which are operated as third-party sponsored casinos under SJM’s licenses and four of which are operated by Galaxy Entertainment and Melco Resorts.
Lei Wai Nong, the Secretary for Economy and Finance, recently announced that the present gaming privileges would be extended for another six months, bringing the deadline to December 31. The timeframe for satellite casinos to resolve any ownership difficulties could be extended from three to five years.
Legislator Chan Chak Mo said: “We don’t want anyone to become unemployed because of this. That’s why the three year grace period was provided to reduce this impact. Maybe some people think three years is not sufficient. Legislators asked if the period could be increased to five years. The government did not say if it would do so, just consider.”