KUALA LUMPUR (Oct 19): The Macau Special Administrative Region is said to have unconditionally accepted Genting Malaysia Bhd's indirect subsidiary GMM SA's bid for the award of a new 10-year gaming concession involving casino operations there, GGRAsia reported.

Genting Malaysia had initially on Sept 15 announced GMM's bid for the 10-year gaming concession in Macau.

In a Bursa Malaysia filing then, Genting Malaysia said GMM submitted the bid to the Macau government on Sept 14 "for the operation of casino games of fortune in Macau".

"This represents an opportunity for Genting Malaysia to expand its business in the leisure and hospitality sector, diversify its geographical footprint, and participate in the recovery prospects of the Macau gaming segment.

"Genting Malaysia will make appropriate announcements once there is more clarity of the company’s position in relation to the bid," Genting Malaysia said then.

As at the time of writing on Wednesday, Genting Malaysia had not issued a statement in response to GGRAsia's report which was published on Tuesday (Oct 18).

GGRAsia reported that the other six bidders — incumbent Macau operators Galaxy Entertainment Group Ltd, Melco Resorts and Entertainment Ltd, MGM China Holdings Ltd, Sands China Ltd, SJM Holdings Ltd, and Wynn Macau Ltd — had been notified on Sept 15 of the authorities’ decision on the six bidders' respective bids.

"GGRAsia previously approached the body tasked with adjudicating on the submissions — the Committee for Public Tendering of Concessions for the Operation of Casino Games of Fortune — for a comment on GMM’s bid, but received no reply.

"The update [on the unconditional acceptance of GMM's bid] means that the committee overseeing the public tender has now accepted seven bids for up to six, 10-year gaming concessions. The government hopes to see new concessions operating from January [2023]," GGRAsia reported.

At the time of writing, Genting Malaysia’s share price was unchanged at RM2.59, valuing the group at about RM14.69 billion.

Genting Malaysia has 5.67 billion outstanding shares, according to its latest quarterly financial report.