Macau casino operator SJM Holdings Ltd has proposed a significant increase in the annual caps of its service agreement with its parent company STDM. This move follows the surge in demand for tourism products in the gaming hub.

Macau legacy gaming operator SJM has renewed its services, leasing and chips agreements with parent company STDM for three years.

SJM Holdings Limited announced Wednesday that STDM agreed to extend an unsecured term loan of HK$2 billion in terms J.P. Morgan classifieds as disappointing. 

To align with the revitalization project for Inner Harbor Pier No. 16, the government has approved a modification to the land grant for Ponte 16, which is now set to move closer to the construction of the Floating Casino.

Hong Kong-listed Shun Tak’s gaming investment generated a profit of $6.5 million in the first six months of 2024.

The development of the gaming sector in Macau has made the city's economy "unbalanced", with the diversification away from the industry being an imperative from Chinese central authorities and a directive "backed by most of the population", says Sam Hou Fai, the sole official candidate for the next Chief Executive of Macau.

SJM Holdings Limited has announced two strategic acquisitions to bolster its culinary portfolio and mass market appeal.

Fitch Ratings anticipates that SJM Holdings Limited will experience a positive free cash flow (FCF) in 2024, with further expansion in 2025-2026. This positive trend is expected to drive a reduction in debt balance from HK$ 29 billion ($2.7 billion) at the end of September 2023 to HK$ 26 billion ($3.3 billion) by the end of 2025 and HK$ 23 billion ($3 billion) by the end of 2026.

The former Macau Canidrome will be transformed into a new themed entertainment spot in December during the Macau Light Festival.

The end of an age. Macau's junkets are now truly shifting out of the territory, finding safer pastures in Southeast Asia, as the gaming hub no longer creates profits that it once had.