SJM Increases Payments to Leong-Owned Entities as Macau Recovers

Stronghold Macau casino SJM is paying out more money to companies run by co-chair Angela Leong, suggesting that the gaming sector is rebounding in the city.

L’Arc Entertainment, which operates a satellite casino under SJM’s license, received an increase in the maximum annual payout from SJM.

This can be attributed to L’Arc’s revenue explosion, which in just the first quarter surpassed half of the previous year’s cap.

SJM also extended its lease for the Jai Alai building, another Leong-owned asset that is home to Casino Oceanus.

The higher leasing prices are justified by SJM’s continuous forecast of increased Macau tourism and hotel demand.

These choices come after SJM’s outstanding performance in the first quarter, during which gross gaming revenue increased by 77% year over year.

Although concerns regarding possible conflicts of interest are raised by the measures, optimism regarding Macau’s gaming revival is also evident.

Original Story by: Inside Asian Gaming