Macao to Announce List of Winners of Casino Licenses

A list of three temporary winners in the bidding for three new casino licenses in Macao will be announced at 4:00 p.m. Friday, government sources said.

Francis Tam Pak Yuen, secretary for economy and finance of the special administrative region (SAR) government, will post the names of six companies with "best conditions" out of 18 shortlisted companies, including three temporary winners and three substitutes, which are prepared for unexpected happenings prior to an agreement reached by the SAR government and the winners.

The move will put an end to the monopoly over the gambling market for decades by the Macao Tourism and Amusement Company (STDM), seen widely as a bold decision of the government to upgrade casino business and spur economy.

People's Daily Online ---