Macau’s government has authorized the transfer of the hotel and casino unit of L’Arc Hotel to SJM Resorts, S.A. and its subsidiary, marking a key step in the gaming operator’s consolidation of its peninsula portfolio.
The order, signed on December 12th by Secretary for Transport and Public Works Raymond Tam, approved the transfer of the autonomous unit covering more than 86,000 square meters of hotel and casino space – from developer Arc Of Triumph Development Company Limited to SJM.
The 22-storey hotel is located along one of Macau’s main thoroughfares, nearby Wynn Macau and MGM.
Authorities said the concession was cleared after review by gaming and tourism regulators, with no outstanding debts or signs of speculative intent.
The move comes just days after SJM Holdings secured shareholder approval to acquire 100 percent of the hotel property from the corporate owner of L’Arc Hotel and its facilities. Arc Of Triumph Development Company Limited is owned by Angela Leong, an Executive Director in SJM.
At an extraordinary general meeting on December 15th, independent shareholders voted overwhelmingly in favor of the HK$1.75 billion ($224 million) deal, which includes repayment of most of the target company’s HK$1.93 billion ($247 million) debt and a small nominal share transfer.
The acquisition positions L’Arc Hotel to be converted into a fully self‑operated casino, as Macau phases out the satellite casino model by year‑end.
SJM has recently adjusted its peninsula strategy, abandoning plans to acquire Casino Ponte 16, which closed permanently on November 28th.
