Six to eight satellite casinos expected to close by June – Sector rep

The President of the Macau Association of Gaming and Entertainment Promoters, Kwok Chi Chung, has indicated in comments to Exmoo News to have received information that six to eight satellite casinos are expected to cease operations by the end of June.

These would already include the casino at the Grand Emperor hotel under SJM’s gaming license, which had already announced it will cease operations by June 26, when all gaming concessions are set to expire.

Currently, there are 18 operational satellite casinos among a total of 40 casinos in the territory, with 14 of these third-party promoted casinos running under the license of gaming operator SJM Holdings Ltd while the other four are linked to Galaxy Entertainment Group (GEG) and Melco Resorts and Entertainment Ltd.

According to Kwok, although the six local gaming concessionaires are set to see their gaming licenses expire by six months to December 31 of this year, he believed some satellites will decide to stop operations earlier so as to “cut losses”.

Chinese language newspaper Macao Daily News reported on March 24 that seven satellite casinos were planning to stop operations by mid-year, due to the tightening of visa applications to Macau, lack of cash flow, and the negative impact of the repeated pandemic outbreaks, with four of the casinos set to be closed were said to be linked to Chan Meng Kam’s Golden Dragon Group.

Source: https://www.macaubusiness.com/six-to-eight-satellite-casinos-expected-to-close-by-june-sector-rep/