Emperor Entertainment Hotel Ltd has taken back control of the day-to-day operations at the satellite casino.
Macau.- Emperor Entertainment has resumed the operation of the satellite casino at Grand Emperor Hotel in Macau after a six-month period of direct management by the concession holder SJM Resorts Ltd. It’s reached a new deal with SJM for a term of three years starting from January 1 this year
Emperor subsidiary Tin Hou has entered into an agreement to provide “services to SJM in relation to the casino to be operated under SJM’s gaming concession”. Tin Hou will be entitled to a percentage share of the gross gaming revenue “in respect of the monthly operating performance of the Gaming Area”, settled on a monthly basis.
The financial caps set for the three years are HK$100m (US$ 12.8m) in the first three months of 2023, HK$400m (US$ 51.2m) for the financial year ending March 2024, HK$600m (US$ 76.8m) for the financial year ending March 2025 and HK$700m (US$ 89.6m) for the nine months ending December 31st, 2025.
The Emperor Entertainment Hotel’s management said it was in its “best interest” to strike the deal, so it could “fully utilise its assets and space in Grand Emperor Hotel”.
“With the recent infrastructure developments that enhance access to Macau, Macau’s position in Greater Bay Area, as well as Macau Government’s determination to become a world center of tourism and leisure, the Emperor E Hotel Group’s management is confident in Macau’s tourism recovery and its medium to long term growth prospects, and is prepared to capture the opportunities when the market revives.”