Kingston Group runs two casinos in Macau in partnership with SJM Holdings, the Casa Real Casino on the Macau peninsula and the Grandview Casino on Taipa Island.
Macau.- Two more satellite casinos have confirmed they will continue operating until at least December 31. Sharing its financial results, Kingston Group confirmed it has reached an agreement with SJM Holdings to extend its operation of Casa Real Casino and the Grandview Casino.
Both satellite casinos will continue to operate until at least December 31. Only two of Macau’s satellite casinos have ended their operations for now: Rio Casino and President Casino, two satellite casinos run by Galaxy Entertainment Group.
Kingston Financial Group reported that gaming revenue for the year ended March 31 returned to profit at HK$8.23m (US$1m), compared with a loss of HK$7.89m a year earlier. As of March 31, the group had 69 gaming tables and 262 slot machines at its mass-market casinos.
The company reported that it had no VIP tables because the VIP room closed in February 2022. Previous to the closure, the casinos had 15 VIP tables.
The future of satellite casinos was uncertain when Macau’s new gambling law was first published. Many analysts, gaming labour groups and some legislators feared closures and an increase in unemployment as the law required any casinos operating in the city to be established on property owned by gaming operators.
However, Macau’s proposed new gambling legislation was changed to allow satellite casinos to continue operating even if the property on which they are located is not wholly owned by the gambling franchisee.