Melinda Chan Mei Yi, chief executive officer of Macau Legend Development Ltd, has confirmed that the agreement with SJM Holdings has been extended until December 31.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau Legend will continue to operate its satellite casinos until at least December 31. Chief executive Melinda Chan Mei Yi<\/strong> told a conference the company had extended its agreement with SJM Holdings. From there, the future of the concession will depend on what happens with the\u00a0amendments to Macau’s gaming regulatory framework<\/a>.<\/p>\n\n\n\n Macau Legend currently\u00a0operates three casinos <\/strong>through services agreements under SJM Holdings\u2019 gaming licence. It also controls Macau Fisherman\u2019s Wharf. Macau\u2019s current casino concessions were to expire on June 26, but a tender process for renewal has yet to be held due to delays in the new gaming legislation. As a result, Macau has decided to grant extensions on the current casino licences\u00a0until December 31<\/a>.\u00a0<\/p>\n\n\n\n All six of\u00a0Macau\u2019s casino operators have applied<\/a>\u00a0for the extensions but\u00a0six to eight satellite casinos were expected to cease operations<\/a>\u00a0by the end of June.<\/p>\n\n\n\n Melinda Chan also said that Macau Legend is optimising its operations due to the poor business environment, leading to a 16 per cent reduction in staff at\u00a0Macau Fisherman’s Wharf<\/strong>.<\/p>\n\n\n\n Macau\u2019s chief executive, Ho Iat Seng<\/strong>, told workers worried about their jobs that most of the satellite casinos should be able to continue operating unless the respective gaming franchisees or sub-franchisees terminate their contracts.<\/p>\n\n\n\n Ho Iat Seng also told the official news agency, GCS, that few satellite casinos would go out of business and that there would not be a significant impact on employment. He also said that the SAR government is closely monitoring the unemployment situation.<\/p>\n\n\n\n Ho Iat Seng also stressed that the proposed changes to the existing laws are not aimed at changing the overall path of the industry\u2019s development, but rather creating a clearer framework for the industry as a whole<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" Melinda Chan Mei Yi, chief executive officer of Macau Legend Development Ltd, has confirmed that the agreement with SJM Holdings has been extended until December 31.<\/p>\n","protected":false},"author":176,"featured_media":19652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development Ltd has extended its satellite casino operating agreement with SJM Holdings until December 31, aligning with Macau's broader concession extensions due to regulatory framework delays. This temporary measure precedes new gaming legislation, while Macau Legend concurrently optimizes operations, including a 16% staff reduction at Macau Fisherman\u2019s Wharf, amidst a challenging business environment and uncertainty regarding the long-term viability of satellite casinos.","focusai_entities":"Melinda Chan Mei Yi, Macau Legend Development Ltd, SJM Holdings, Ho Iat Seng, GCS","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (0.95), investor_analyst (0.9), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Satellite Casino Viability","query":"What specific criteria within the proposed amendments to Macau's gaming regulatory framework will determine the long-term operational viability and licensing structure for satellite casinos post-December 31?"},{"label":"Concession Tender Impact","query":"How will the delayed tender process for Macau's gaming concessions impact the capital expenditure plans and strategic partnerships of existing operators, particularly regarding their B2B and B2C licensing models?"}],"footnotes":""},"categories":[157,16338,158],"tags":[22593],"class_list":["post-30697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30697","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=30697"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30697\/revisions"}],"predecessor-version":[{"id":30735,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30697\/revisions\/30735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19652"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau: doubts remain about how many satellite casinos will remain open<\/h2>\n\n\n\n