Future satellite casino management fees should be adjusted according to gaming revenue – David Chow

The chairman and non-executive director of gaming company Macau Legend, David Chow Kam Fai, that future management fee to be charged to companies responsible for satellite casinos should not be fixed but adjusted according to the gambling revenue ratio of the property.

In comments to the Chinese-language newspaper Macao Daily, Chow noted that many satellite casino managers have expressed that the management fees should be adjusted according to the gambling revenue, otherwise the Hong Kong Stock Exchange authorities may not approve as “technical problems” may exist.

Macau Legend oversees a number of so-called satellite casinos in Macau – including the Legend Palace casino hotel at Macau Fisherman’s Wharf – under the Macau gaming licence of SJM Holdings Ltd.

A new version of the general gaming law presented by the Macau SAR government allows for satellite casinos to continue operating even if the property where they are located is not completely owned by a gaming concessionaire, a turnaround from the previous stance that could see these casinos closed if the situation was not resolved in a three-year transitional period after the new law was is enforced.

Source: https://www.macaubusiness.com/future-satellite-casino-management-fees-should-be-adjusted-according-to-gaming-revenue-david-chow/