SJM renews services, leasing and chips agreement with STDM

The new agreement is effective until the end of December 2025.

03/03/23

STDM Group will continue to provide hotel accommodation, entertainment, transportation, maintenance services, laundry services, hotel management and operation to SJM.

Macau.- SJM Holdings has announced through a company filing tht it has renewed its products and services master agreement with STDM. Under the renewed products and services master agreement, the STDM Group will continue to provide hotel accommodation, entertainment, transportation, maintenance services, laundry services, hotel management and operation, and promotional and advertising services until the end of December 2025.

From April 1 2002, SJM Resorts had been borrowing STDM Chips for its business operation. It has since secured its gaming chip supply and no longer borrows STDM chips but many are still in circulation. The overall value of the STDM chips redeemed has declined and the companies agreed on setting an annual cap on transactions of HK$76m (US$9.68m) from 2023 until 2025.

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SJM Holdings