{"id":18099,"date":"2021-05-20T15:19:18","date_gmt":"2021-05-20T15:19:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18099"},"modified":"2026-04-23T19:22:18","modified_gmt":"2026-04-23T22:22:18","slug":"sjm-executive-director-acquires-larc-macau-casino","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-executive-director-acquires-larc-macau-casino","title":{"rendered":"SJM executive director acquires L\u2019Arc Macau casino"},"content":{"rendered":"\n

Angela Leong, SJM executive director, has acquired all of the remaining shares in L\u2019Arc Entertainment, the company behind the L\u2019Arc Macau casino.<\/p>\n\n\n\n\n\n\n\n

Macau.- SJM Holdings has announced that its executive director\u00a0Angela Leong On Kei<\/strong>, has acquired all of the remaining shares in L\u2019Arc Entertainment<\/strong>.<\/p>\n\n\n\n

The acquisition was completed on May 1, making Angela Leong the\u00a0sole owner of L\u2019Arc Holding Companies<\/strong>, including City Honour Developments Limited and Power Link Fortune Limited.<\/p>\n\n\n\n

SJM Holdings said: “The board is assessing the full implications of this change<\/strong>, including measures on the avoidance of conflict of interest and competition against the Company in connection with the aforesaid change.”<\/p>\n\n\n\n

The company said the acquisition represents a significant change from the earlier position\u00a0<\/strong>in which Angela Leong On Kei was one of several investors in the indirect holding companies.<\/p>\n\n\n\n

L\u2019Arc Entertainment has agreed to\u00a0provide support services to SJM\u00a0<\/strong>concerning marketing, promotion, customer development and introduction, etc.<\/p>\n\n\n\n

L’Arc also authorises SJM to\u00a0occupy and use the designated area of the L\u2019Arc Macau casino and hotel\u00a0<\/strong>for the operation of a casino, including mass market, VIP room and slot machines.<\/p>\n\n\n\n

L\u2019Arc Macau casino and hotel opened in 2009. It has\u00a053 floors and 283 hotel rooms\u00a0<\/strong>and operates under a \u201csatellite\u201d casino arrangement through SJM Holdings concession.\u00a0<\/p>\n\n\n\n

The arrangement between SJM Holding and L’Arc Entertainment is valid until June 2022<\/strong>, and L\u2019Arc Entertainment has to pay a monthly fee based on a fixed percentage of the gross gaming revenue.<\/p>\n\n\n\n

Macau\u2019s current casino licences will expire in June 2022<\/strong> but could be extended for up to five years under the city\u2019s gaming laws.<\/p>\n\n\n\n

Ambrose So Shu Fai, CEO of SJM<\/a> has recently said he believes Macau should extend its six current gaming concessions <\/strong>for an extra year.<\/p>\n\n\n\n

According to Shu Fai, the move would give Macau\u2019s gaming operators time to recover from the Covid-19 pandemic<\/strong> and the city time to better decide what changes to make to licence criteria<\/strong>.<\/p>\n\n\n\n

SJM Holdings<\/a>\u00a0has raised nearly HK$1.24bn (US$160m) and MOP298m (US$12.3m)<\/strong>\u00a0after the issuance of senior notes due 2026.<\/p>\n\n\n\n

The company will use approximately 90 per cent of the net proceeds from the proposed offering for\u00a0refinancing syndicated credit facilities<\/strong>.<\/p>\n\n\n\n

SJM’s Grand Lisboa Palace to open in June<\/strong><\/h2>\n\n\n\n

SJM Holdings\u00a0plans to\u00a0open the Grand Lisboa Palace\u00a0<\/strong>in June with 304 gaming tables and 1,034 slot games. The hotel will open with limited capacity.<\/p>\n\n\n\n

According to\u00a0Sanford C. Bernstein Ltd<\/strong>, Grand Lisboa Palace will be allowed to\u00a0open only one of its three hotels\u00a0<\/strong>with limited retail options.<\/p>\n\n\n\n

The Grand Lisboa Palace <\/strong>cost HKD39bn (US$5bn). When complete, it will have around 2,000 hotel rooms<\/strong> split between 3 structures: The Lisboa Palace Hotel, Palazzo Versace Macau, and Karl Lagerfeld Hotel luxury boutique hotel.<\/p>\n\n\n\n

The venue includes 27,000 square metres of gaming floor space <\/strong>(290,000 sq ft) for up to 700 gaming tables and 1,200 electronic gaming machines<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Angela Leong, SJM executive director, has acquired all of the remaining shares in L\u2019Arc Entertainment, the company behind the L\u2019Arc Macau casino.<\/p>\n","protected":false},"author":176,"featured_media":16859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Angela Leong, SJM executive director, has acquired full ownership of L'Arc Entertainment, the operator of L'Arc Macau casino, prompting SJM to assess potential conflicts of interest. Concurrently, SJM is preparing for the June opening of its Grand Lisboa Palace integrated resort and has raised capital via senior notes, all while Macau's gaming concessions face expiry in June 2022.","focusai_entities":"Angela Leong On Kei, SJM Holdings, L\u2019Arc Entertainment, L\u2019Arc Macau, City Honour Developments Limited, Power Link Fortune Limited, Ambrose So Shu Fai, Sanford C. Bernstein Ltd, Grand Lisboa Palace, The Lisboa Palace Hotel, Palazzo Versace Macau, Karl Lagerfeld Hotel","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"SJM Conflict Mitigation?","query":"How will SJM's board effectively mitigate potential conflicts of interest arising from Angela Leong's sole ownership of L'Arc Entertainment, particularly concerning the satellite casino's GGR contributions and competitive positioning within SJM's concession?"},{"label":"Macau Concession Strategy?","query":"What specific criteria changes are anticipated for Macau's gaming concessions, and how might SJM's current satellite casino arrangements and new IR developments position it for the upcoming renewal process, especially if extensions are granted?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23108],"class_list":["post-18099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18099"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18099\/revisions"}],"predecessor-version":[{"id":18135,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18099\/revisions\/18135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16859"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}