CASINO

Paradise Entertainment sets its sights on new Macau license

TAGs: Macau, Paradise Entertainment

Paradise Entertainment Group (PE) has indicated that it will more than likely look to pick up a casino license in Macau when the city state begins to issue new licenses in the next couple of years. The company, which operates two satellite casinos in the special administrative region, has been exploring expansion opportunities and the timing could be right for it to extParadise Entertainment sets its sights on new Macau licenseend its reach in the gambling hub.

According to Bob Shen, PE’s Investor Relations Manager, the final decision on whether or not it seeks a license won’t be taken until after the Macau government publishes guidelines on the licensing process. That is expected later this year, and Shen indicated that the operator would possibly apply if a seventh gaming license is offered.

Shen explained, “We welcome the Macau government to grant a new gaming license to a local company like us to create greater competition and benefit the Macau gaming industry. At the moment it is too early to comment on whether Paradise is qualified to apply because we need to see what the re-tendering process from the government requires, but we welcome whatever is best for us and best for Macau.”

There are currently six operators in Macau whose 20-year licenses are set to expire within four years. MGM and SJM will see their licenses expire first, in 2020, and the others will be up for renewal in 2022.

PE operates the Kam Pek casino under a license held by SJM and the Waldo casino under Galaxy’s license. It is also behind most of the live multi-game terminals in the city, having placed close to 5,000 in a number of Macau casinos.

The company has begun to actively pursue expansion opportunities both in Macau, as well as internationally. PE was poised to purchase the Lan Kwai Fong hotel and casino towards the end of 2017 before the deal fell apart just as it was about to be consummated.

Shen said, “Yes, we are looking to expand outside of Macau. We consider ourselves a global company so if the right opportunity is there we will pursue it. We’re open to a number of different options such as a joint venture partnership or simply providing our gaming machines and equipment. We think that our two main business areas—casino operations and the gaming equipment segment—complement one another and give us an advantage because we can test our products in our own casinos and see how the public respond.”

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com