The Jai Alai Oceanus complex lease agreement has been renewed until 2025.<\/p>\n\n\n\n\n\n\n\n
Macau.- SJM Holdings has announced that it has signed a new lease agreement with Angela Leong On Kei<\/strong>, its co-chair and managing director, to lease spaces at the Jai Alai Oceanus complex <\/strong>on the Macau peninsula until the end of 2025. The complex comprises Casino Oceanus, the Jai Alai Hotel and the JA Avenue retail arcade. <\/p>\n\n\n\n The new agreement runs until December 31 2025. According to a stock filing, the rental payments are capped at HK$37.4m (US$4.8m), with the annual caps for 2024 and 2025 set at HK$3m. The gaming company said the agreement forms part of its core business developing and operating casinos and related facilities in Macau.<\/p>\n\n\n\n Last week, SJM Resorts, an indirect subsidiary of SJM Holdings, announced that it had renewed a services agreement with L\u2019Arc Entertainment<\/a>, which is indirectly and wholly owned by Leong. The move allows the gaming concessionaire to operate a satellite casino at L\u2019Arc Hotel until 2025. It also renewed its products and services master agreement with STDM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The Jai Alai Oceanus complex lease agreement has been renewed until 2025.<\/p>\n","protected":false},"author":176,"featured_media":13477,"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 a lease agreement for the Jai Alai Oceanus complex in Macau, including Casino Oceanus, with co-chair Angela Leong On Kei until 2025, capping annual rental payments at HK$3m for 2024-2025. This ensures operational continuity for a key gaming and hospitality asset. Concurrently, SJM Resorts extended a services agreement with L\u2019Arc Entertainment for a satellite casino and renewed its master agreement with STDM.","focusai_entities":"SJM Holdings, Angela Leong On Kei, SJM Resorts, L\u2019Arc Entertainment, STDM","focusai_location":"Macau, Macau peninsula","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.9), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Related-Party Transaction Impact","query":"What is the strategic rationale behind SJM Holdings' continued reliance on related-party lease and service agreements, and how do these terms compare to market-rate transactions for similar assets in Macau?"},{"label":"Operational Cost Structure","query":"How do the stipulated rental caps for the Jai Alai Oceanus complex impact SJM Holdings' projected operational expenditure and NGR margins for the 2024-2025 fiscal years, particularly in the context of Macau's evolving gaming concession landscape?"}],"footnotes":""},"categories":[157,16338],"tags":[23108],"class_list":["post-777003014","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\/777003014","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=777003014"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003014\/revisions"}],"predecessor-version":[{"id":777003043,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003014\/revisions\/777003043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13477"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}