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

L’Arc Entertainment is owned by Angela Leong.
L’Arc Entertainment is owned by Angela Leong.

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

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