MGM China CEO says five-year concession talk “strange”

    MGM China CEO Grant Bowie said reports that Macau is considering changing the time frame for casino licenses to five years once the current concessions come up for renewal in 2020 is “strange,” local media said. The report, which originated in a Chinese newspaper, sent casino stocks sharply lower this week. Bowie said he thinks the report is just a “misunderstanding yet again.”