SJM to increase annual cap on L’Arc Entertainment’s revenue share

SJM Holdings will increase the cap to HK$510m (US$65.2m).

Macau.- SJM Holdings has reported that it will increase the annual cap on L’Arc Entertainment Group Company’s share of its casino-generated revenue. 

Under an agreement that came into effect at the start of this year, L’Arc Entertainment Group, an entity indirectly and entirely owned by SJM Holdings co-chairman and executive director Angela Leong On Kei, has been entitled to a portion of the monthly gross gaming revenue derived from its premises. 

The entitlement comes with an annual cap, which is subject to periodic adjustments. Initially set at HK$253.1m (US$ 32.36m) until December 31, 2023, the cap will rise to HK$510m (US$65.2m). According to the filing, the aggregate services fee paid for the eight months leading up to August 31, 2023 was HK$183.6m (US$23.5m), roughly 72.5 per cent of the existing cap.

For the year ending December 31, 2024, the annual cap is to rise to HK$10.2m (US$1.3m).

See also: SJM Holdings to achieve ‘normal’ workforce by 2025, analysts say