SJM to directly operate Casino L’Arc Macau
SJM Resorts received approval to directly operate Casino L’Arc Macau starting December 30th, becoming the sole satellite casino to do so.Summary
SJM Resorts, S.A. has been granted approval by the Macao SAR Government to directly manage Casino L’Arc Macau beginning at 2 a.m. on December 30th. This transition occurs as Macau’s three-year transition period for satellite casinos concludes. SJM had previously considered acquiring both L’Arc and Ponte 16, ultimately choosing to pursue only L’Arc, with Ponte 16 closing on November 28th. Casino L’Arc is now the only satellite casino transitioning to a self-operated model, as all others have ceased operations. The approval followed SJM’s acquisition of Arc of Triumph Development Company Limited, the parent company of L’Arc, completed on December 17th, and subsequent approvals from the Gaming Inspection and Coordination Bureau (DICJ) and Secretary for Transport and Public Works Raymond Tam. The transaction was approved by SJM Holdings Ltd. shareholders on December 15th, costing HK$1.75 billion ($224 million). The L’Arc property spans 86,438 square meters and includes hotel rooms, dining, retail, and casino space.
(Source：Macau Daily Times)