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Emperor E Hotel signs two-year extension with SJM to run Macau’s Grand Emperor casino and hotel

by Newsdesk

Thu 14 May 2020 at 05:23

Emperor Group to target Macau’s premium mass market after 2019 revenue decline

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Emperor Entertainment Hotel Ltd has signed an extension to its agreement with Macau gaming concession holder Sociedade de Jogos de Macau, S.A, a subsidiary of SJM Holdings, to continue providing management services at Grand Emperor Hotel, located on the Macau Peninsula.

The “1st Addendum” to the previous 10-year agreement signed in April 2010 will see Emperor E Hotel and its wholly-owned subsidiary Tin Hou continue providing services at Grand Emperor until 26 June 2022 – the date upon which SJM’s gaming concession expires.

Under the terms of the 1st Addendum, Emperor E will be entitled to a share of gross win and gross loss from casino operations, capped at HK$800 million for the 2021 financial year, HK$1.2 billion in 2022 and HK$300 million in 2023. Emperor E Hotel’s financial year runs until 31 March.

Grand Emperor is one of 16 so-called “satellite” casinos running under license of SJM but managed by third parties.

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Tags: casino Emperor E Hotel Grand Emperor Hotel Macau satellite casino SJM Holdings Sociedade de Jogos de Macau

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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