Businessman Chan Meng Kam has reached an agreement with SJM to continue operating the satellite casino under an SJM license until the end of the year, the Portuguese channel of TDM Radio reported.
The casinos in question are Million Dragon, Royal Dragon, and Golden Dragon, which hold a total of 200 game tables and are operated under SJM’s game license.
Under a group of businessmen, Taipa’s Grand Dragon operates under Melco’s license.
The current six game concessions and sub-concessions were all scheduled to end on June 26, but Macau SAR authorities have passed a new game law amendment to allow bids for new game licenses6. A month extension has already been agreed. It will be executed.
The Chinese newspaper Macao Daily News said on March 24 that seven satellite casinos will be closed by mid-year due to the rigor of visa applications to Macau, lack of cash flow and the negative effects of repeated pandemics. I reported. Four of the casinos scheduled to be closed are said to be linked to Chan Meng Kam’s Golden Dragon Group.
The Grand Emperor Hotel Casino was previously scheduled to close on June 26th, but after the agreement between hotel owner Emperor Entertainment Hotel Limited and SJM, the casino will continue to operate until December 31st.
The two satellite casinos at Macau Fisherman’s Wharf will also be open until at least December 31st. This was previously revealed by Macau Legend CEO Melindacha, as the contract with Game Concessionaire SJM was also extended for six months.
Fitch Ratings recently estimated that SJM staff costs could increase by up to HK $ 600 million (US $ 76.4 million) in the second half of this year as game staff absorb game staff from satellite casinos into salaries under license. did.
At the same time, Galaxy has decided to close three satellite casinos at its hotels in Rio, President and Wald under the Game License and City Club brand, and move their staff to other facilities within the group.