All of Macau’s satellite casinos will cease operations at the end of the year, according to information made public Monday by the related concessionaires. However up to two – L’Arc and Ponte 16 – may continue as casinos after acquisitions by SJM Resorts S.A.
In a statement, SJM, which operates nine of the city’s 11 satellites, said it would cease the operations of its satellite casinos with all gaming tables and slot machines from affected satellite casinos to be reallocated to the company’s self-owned casinos.
Melco Resorts announced earlier in the day that it would shutter Grand Dragon Casino while Galaxy Entertainment Group today announced the closure of Waldo Casino by the end of this year “due to commercial considerations.”
SJM revealed it would “restructure” its satellite casino operations by looking to acquire the properties where Casino L’Arc Macau and Casino Ponte 16 are located, while it would not continue operations at Casino Casa Real, Casino Emperor Palace, Casino Fortuna, Casino Grandview, Casino Kam Pek Paradise, Casino Landmark, and Casino Legend Palace.
Negotiations over the potential acquisitions of Casino L’Arc Macau and Casino Ponte 16 have not yet commenced, it added, and no binding agreements have been reached. However, “regardless of the outcome of negotiations for the [two] potential acquisitions, all gaming tables and slot machines from affected satellite casinos will be reallocated to SJM Resorts’ self-owned casinos.”
This, SJM explained, followed “in-depth analysis and evaluation by the board, taking into consideration factors such as their alignment with SJM Resorts’ long-term objectives and the Group’s overall competitiveness, and the strategic locations of the satellite casinos.”
It is apparent that SJM intends to continue operating Casino L’Arc Macau and Casino Ponte 16 as self-owned casinos but that each would cease casino operations if the planned acquisitions cannot be completed.
SJM also addressed the issue of displaced staff, stating, “SJM Resorts is committed to safeguarding local employment in Macau. All Macau residents currently working at the satellite casinos scheduled for closure, regardless of whether they are directly employed by SJM Resorts or by its third-party partners, will be offered job opportunities within SJM Resorts’ portfolio of properties.
“Those who are already SJM Resorts’ employees will retain their employment and be reassigned to similar gaming-related roles at other casinos based on operational needs. Non-SJM Resorts’ staff who are local residents will also be invited to apply for suitable positions of the Group.”
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