Casino services firm Macau Legend Development Ltd has agreed with gaming operator SJM Holdings Ltd to extend the provision of gaming services at Macau Legend-promoted venues until the end of this year. The information was confirmed to reporters by Macau Legend’s chief executive, Melinda Chan Mei Yi.
Hong Kong-listed Macau Legend runs three casinos in Macau – Landmark, Babylon, and Legend Palace (pictured) – under a so-called services agreement with Macau licensee SJM Holdings. Macau Legend also has a tourism complex called Macau Fisherman’s Wharf, a waterfront facility close to the Outer Harbour Ferry Terminal on Macau peninsula.
“We have extended our contract with them [SJM] until 31 December,” said the Macau Legend CEO. As for whether such cooperation would continue after the end of the year, Ms Chan said the company would have to wait for the gazetting of Macau’s gaming law amendment bill, in order to see what terms could be negotiated with the concessionaires.
The city’s six casino operators had already applied to the Macau government for an extension until December 31 of their existing rights, as made feasible by the local authorities. The current licences are due to expire on June 26. The extension gives time for the Macau government to prepare a new public tender for Macau gaming permits.
Speaking to reporters on the sidelines of a public event, Ms Chan also confirmed a 16-percent reduction in the number of employees at Macau Fisherman’s Wharf. That was the result of the need to “streamline” operations due to a “sluggish” business environment, with the company’s business volume down by “more than 20 percent,” she added.
Feb 27, 2024Macau’s gross domestic product (GDP) is forecast to grow by 10.3 percent in 2024, says Lei Wai Nong (pictured in a file photo), the city’s Secretary for Economy and Finance. He made the...
Aggregate number of visitors to Macau in January 2024