• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 31 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

SJM Resorts increases share capital to MOP$5 billion and local Managing director shareholding to 15% to comply with retendering process

Andrew W Scott by Andrew W Scott
Wed 10 Aug 2022 at 07:06
Macau entry restrictions placing Grand Lisboa Palace opening date in limbo: Angela Leong

SJM Resorts' Managing Director, Angela Leong.

22
SHARES
551
VIEWS
Print Friendly, PDF & Email

Macau casino concessionaire SJM Resorts has announced various changes to its Articles of Association including increasing its share capital from MOP$300 million to MOP$5.0 billion and increasing its non-voting “Type B” shares, held by its so-called “Managing Director”, from 10% to 15% of issued capital. The Managing Director of SJM Resorts is Angela Leong, who is also Co-Chairman and an Executive Director of listed parent company SJM Holdings.

The proposed changes will be voted upon at an extraordinary general meeting of the company to be held on Friday 26 August 2022.

The company said the changes, announced in an overnight filing with the Hong Kong stock exchange by SJM Holdings, were made “in order to be able to qualify for applying for the new gaming concession.”

The filing also formally confirms SJM’s participation in the ongoing casino concessionaire retendering process being conducted by the Macau government, stating, “The board of directors of the company hereby announces that the Company’s principal subsidiary, SJM Resorts, S.A., is applying to the Macau Government for a 10-year gaming concession commencing on 1 January 2023 and is participating in a tender process commenced by the Macau Government.”

The company further explained, “Currently, SJM Resorts has a registered capital of MOP300 million comprising 2,700,000 Type A shares (representing 90% of the issued share capital) and 300,000 Type B shares (representing 10% of the issued share capital) of MOP100 each. In order to be able to qualify for applying for the new gaming concession, SJM Resorts is required to increase its issued share capital by MOP4.7 billion to MOP5.0 billion and increase the portion of its Type B shares from 10% to 15% of the issued share capital.”

The share issuance is required to be approved by a special 75% majority vote. Type B shares, which are issued to the company’s “Managing Director” solely for the purpose of maintaining compliance with the Macau gaming law, do not have voting rights.

RelatedPosts

Light at the end of the tunnel

Glenn Huybrecht departs Light & Wonder, Ken Jolly resumes Managing Director responsibilities for Asia

Fri 2 May 2025 at 05:47
Macau’s new 50,000-capacity outdoor performance venue to operate on trial basis for one year

Macau’s new 50,000-capacity outdoor performance venue to operate on trial basis for one year

Thu 5 Dec 2024 at 17:24
2024 Asian Gaming Power 50: Number 29 – Sue van der Merwe

2024 Asian Gaming Power 50: Number 27 – Angela Leong

Tue 12 Nov 2024 at 13:19
Ponte 16 expecting government approvals for expansion “very soon”

Macau government agrees non-gaming expansion plan for Ponte 16

Thu 7 Nov 2024 at 04:24
Load More
Tags: Angela LeongManaging Directorre-tenderingSJM
Share9Share2
Andrew W Scott

Andrew W Scott

Born in Australia, Andrew is a gaming industry expert and media publisher, commentator and journalist who moved to Hong Kong in 2005 and then Macau in 2009, when he founded O MEDIA, one of Macau’s largest media companies, former and parent company of Inside Asian Gaming (IAG). Both O MEDIA and IAG were merged with US-based gaming media brand CDC Gaming on 1 January 2025, under new corporate parent Complete Media Group (CMG).

Andrew was appointed CEO of Complete Media Group upon the merger. CMG is now the parent of three gaming media brands: Inside Asian Gaming (focusing on land-based gaming in the Asia-Pacific region), CDC Gaming (focusing on land-based gaming in the Americas), and Complete iGaming (focusing on online gaming in the Americas and APAC).

Andrew continues to be Vice Chairman and CEO of IAG and now-sister company O MEDIA.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English