Emperor Entertainment Hotel to close its casino on June 26
The company has announced it will not renew its service agreement with gaming concessionaire SJM.
Macau.- Emperor Entertainment Hotel Limited has reported that its casino at the Grand Emperor Hotel will cease operations due to the termination of its service contract with gaming franchisee SJM, which expires on June 26. The company said the hospitality business in Grand Emperor Hotel will remain operational.
Emperor Entertainment Hotel chair Semon Luk Siu Man said: “considering the gloomy outlook of the high-end gaming segment and after careful and due consideration the group has resolved not to renew the service agreements with SJM and to cease the gaming operation.”
A week ago, gaming industry sources told Chinese-language newspaper the Macau Daily that seven satellite casinos plan to suspend operations by mid-year. The decisions are due to the negative impact of repeated Covid-19 outbreaks, tighter visa requirements in the city, the lack of cash flow and new rules proposed under Macau’s gaming law amendment bill.
There are currently 18 satellite casinos in Macau operating under licences attached to one of the six casino concessionaires but run by third parties on individually owned premises. Some 14 of those satellite casinos are operating under the licence of SJM Holdings Ltd, and the other four are tied to Galaxy Entertainment Group (GEG) and Melco Resorts and Entertainment Ltd.
Golden Dragon Group to close its four satellite casinos
Golden Dragon Group has announced it will close its casinos: Golden Dragon, Royal Dragon and Casino Million Dragon under SJM Holdings’ licence and Grand Dragon Casino in Taipa under Melco Resorts.
Golden Dragon Group is owned by businessman and former legislator Chan Meng Kam. It operates about 200 gaming tables at its four casinos, accounting for around 21 per cent of the 930 tables at the Macau’s satellite casinos.
