{"id":777002891,"date":"2023-03-01T14:32:31","date_gmt":"2023-03-01T17:32:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777002891"},"modified":"2026-04-23T00:11:39","modified_gmt":"2026-04-23T03:11:39","slug":"sjm-holdings-renews-satellite-casino-deal-with-larc-entertainment","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-holdings-renews-satellite-casino-deal-with-larc-entertainment","title":{"rendered":"SJM Holdings renews satellite casino deal with L\u2019Arc Entertainment"},"content":{"rendered":"\n

The new agreement between SJM Holdings and L\u2019Arc Entertainment will run until the end of 2025.<\/p>\n\n\n\n\n\n\n\n

Macau.- SJM Holdings<\/strong> has announced that it has renewed a services agreement with L\u2019Arc Entertainment Group<\/strong>. The deal authorises SJM Resorts to use the designated area of the L\u2019Arc Hotel for the operation of a casino.<\/p>\n\n\n\n

According to the company filing, the deal will be in effect for three years, until December 31 of 2025. L\u2019Arc Entertainment will receive fixed percentages of monthly gross gaming revenue (GGR) from SJM Holdings, up to an annual cap that will be adjusted throughout the three-year period. L\u2019Arc will bear all operational costs and expenses incurred for the operation of the casino.<\/p>\n\n\n\n

The cap for 2023 is set at HKD253.1m (US$32.2m), while the cap for the 12 months to December 31, 2024, is HKD351.7m, rising to HKD450.1m for 2025. SJM Holdings said the caps consider the expected recovery of visitor arrivals and gaming revenue due to the loosening of the Covid-19 countermeasures in Macau and China. <\/p>\n\n\n\n

L\u2019Arc Entertainment Group is indirectly and wholly owned by Angela Leong On Kei<\/strong>. She became the sole owner of the company<\/strong> after acquiring all of the remaining shares in 2021<\/a>. Leong is also co-chairman and an executive director of SJM Holdings and has an 8.6 per cent stake in the company, as per the 2022 interim results published in August. She is also a Macau legislator.<\/p>\n\n\n\n

SJM Holdings stated that Angela Leong was absent from the board meeting<\/strong> when the deal was being discussed and abstained from voting on the board resolution to approve the renewed L\u2019Arc services agreement.<\/p>\n\n\n\n

See also:<\/strong> Macau Legend to operate satellite casinos under SJM licence<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new agreement between SJM Holdings and L\u2019Arc Entertainment will run until the end of 2025.<\/p>\n","protected":false},"author":176,"featured_media":19388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM Holdings has renewed its services agreement with L\u2019Arc Entertainment Group until December 31, 2025, authorizing SJM Resorts to operate a casino within the L\u2019Arc Hotel. The deal stipulates L\u2019Arc Entertainment will receive fixed percentages of monthly GGR from SJM, subject to annual caps that reflect anticipated market recovery. This related-party transaction involves Angela Leong On Kei, who is co-chairman of SJM Holdings and the sole owner of L\u2019Arc Entertainment.","focusai_entities":"SJM Holdings, L\u2019Arc Entertainment Group, SJM Resorts, Angela Leong On Kei, Macau Legend","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Cap Impact","query":"How do the escalating annual GGR caps for L'Arc Entertainment reflect SJM Holdings' specific projections for Macau's gaming market recovery and what is the anticipated EBITDA impact?"},{"label":"Governance Framework","query":"What specific governance frameworks and independent oversight mechanisms were applied to ensure the fairness and arm's-length nature of this related-party transaction, given Angela Leong On Kei's dual roles?"}],"footnotes":""},"categories":[157,16338],"tags":[23108],"class_list":["post-777002891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002891","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=777002891"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002891\/revisions"}],"predecessor-version":[{"id":777002912,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002891\/revisions\/777002912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19388"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}