Emperor Entertainment: SJM agreement is “reasonable”
Emperor Entertainment Hotel has stressed that its percentage-sharing agreement with SJM is consistent with the rates offered to other service providers.
Macau.- Emperor Entertainment has stressed that its percentage-sharing agreement with Macau concessionaire SJM Resorts is “reasonable”, based on historic agreements with other providers. It comes after last month it confirmed it would continue satellite casino operations at Macau’s Grand Emperor Hotel.
Tin Hou, the Emperor E Hotel management company, will be entitled to a percentage of th gross gaming revenue for the provision of its services. It says the agreement was reached following thorough discussions between representatives of SJM, Emperor Entertainment Hotel, and other SJM service providers to ensure the terms of agreements were aligned.
Emperor Entertainment Hotel said the percentage sharing was determined taking into account the current tax rate levied on gaming revenue. It compared the arrangement with historical percentage sharing on gross gaming revenue with other service providers based on available information and concluded that the terms of the agreement are “on normal commercial terms, fair, and reasonable.”
The company said it believed the percentage sharing was “in line with the rate offered to other service providers of SJM,” stating that the agreement was made with the best knowledge, information, and belief of the directors. It said it was confident the agreement will be mutually beneficial.
See also: Macau IRs receive over 60 five-star Forbes Travel Guide Star Awards 2023
