Macau hotel and casino operator SJM (0880) plans to acquire two satellite casino properties while ceasing gaming operations at seven other satellite venues by the end of the year, according to a filing on Monday.
The move comes as the three-year transition period under Macau’s amended 2022 gaming law nears its end. The law requires that all satellite casinos be either directly owned by license holding concessionaires – in this case, SJM’s subsidiary, SJM Resorts – or operate under non-profit-sharing management agreements to continue operations beyond 2025.
In the filing, SJM said it intends to negotiate the acquisition of the properties housing Casino L’Arc Macau and Casino Ponte 16.
It will also cease operations at seven satellite casinos when their service agreements expire at the end of this year. These include Casino Casa Real, Casino Emperor Palace, Casino Fortuna, Casino Grandview, Casino Kam Pek Paradise, Casino Landmark, and Casino Legend Palace.
The company also stressed its commitment to local employment, saying that all Macau residents currently working at the soon-to-be-closed casinos will be offered job opportunities at other SJM properties.
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