SJM Resorts Welcomes 20% Increase in Non-Gaming Investment Obligations

A significant participant in Macau’s casino sector, SJM Resorts, has praised a 20% increase in non-gaming investment duties, calling the regulation “manageable and reasonable” and compliant with guidelines from the government.

Concessionaires are obliged to augment the initial investments stipulated in the new 10-year gaming concessions inked in December 2022, as a result of Macau’s gross gaming earnings surpassing MOP$180 billion in 2023.

Throughout the term of its concession, SJM’s investment will rise from MOP$12 billion (US$1.5 billion) to MOP$14.4 billion (US$1.8 billion), per the company’s 2023 Annual Report, which was made public on Friday.

SJM’s Chairman and Executive Director Daisy Ho underlined the company’s dedication to developing Macau’s tourism offerings, pointing to notable advancements in reviving the San Ma Lo area and enhancing Grand Lisboa Palace Resort’s facilities.

Ho emphasized that these actions are necessary to support Macau’s historic center’s economic and cultural dynamism.

SJM has verified that it will not be subject to the Macau Complementary Tax on gaming income between January 1, 2023, and December 31, 2027.

Concessionaires have historically benefited from this exemption, which shows how much the government values their substantial economic contributions to Macau.

Stakeholders closely watch concessionaires’ responses and efforts to align with government goals while advancing Macau’s tourist and cultural enrichment projects, as the gaming scene changes in response to legislative changes.

Original Story by: Inside Asian Gaming