Emperor Entertainment is going to continue to operate a satellite casino out of its Grand Emperor Hotel property in Macau’s peninsula.
The news was announced by the company, which noted that a subsidiary had signed an agreement with Macau gaming concession holder SJM.
Tin Hou, the Emperor subsidiary has entered into a three-year agreement, starting from January 1st, 2023 to provide ‘services to SJM in relation to the casino to be operated under SJM’s gaming concession’. Tin Hou will be entitled to a percentage share of the gross gaming revenue ‘in respect of the monthly oprating performance of the Gaming Area’, settled on a monthly basis.
The financial caps set for the three years encompass HK$100 million in the first three months of 2023, HK$400 million for the financial year ending March 2024, HK$600 million for the financial year ending March 2025 and HK$700 million for the nine months ending December 31st, 2025.
The figures were arrived at based upon the previous performance fo the gaming operation in the Grand Emperor Hotel, the total number of tables and slot machines in the area and the ‘anticipated rebound in gross gaming revenue of Macau due to the gradual easing of COVID-19-related restrictions.
Amongst the ongoing downturn and restrictions on travel to and from Macau, Emperor had decided to not renew their service agreement with SJM in June of 2022, shifting to providing hotel rooms and other ‘ancillary services’ to SJM between June and December of 2022, with SJM taking over the gaming operation during the period.
SJM also has indirect interests in Emperor E Hotel.
