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Macau extends gambling licenses for SJM and MGM China until 2022 to synchronise expiry date of all six casino concessions

Macau’s government has extended the gambling licenses of SJM Holdings and MGM China Holdings by two years, putting them on equal footing with four other casino concessionaires that operate in the world’s largest gaming hub.The concessions of SJM and MGM China will expire on June 26, 2022, the same as Sands China, Wynn Macau, Galaxy Entertainment Group and Melco Resorts & Entertainment Limited. SJM and MGM China will have to pay 200 million patacas (US$24.7 million) each for the extension.The… Source link

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Pansy Ho deepens alliance with Hong Kong’s Fok Foundation to strengthen grip on Macau casino operator SJM Holdings

Shun Tak Holdings, founded by Macau tycoon Stanley Ho Hung-sun, has deepened its alliance with one of Hong Kong’s wealthiest families to strengthen its control of the largest holder of casino licences in the former Portuguese colony, giving managing director Pansy Ho Chiu-king the upper hand in a family tussle for the magnate’s gambling empire. Pansy Ho, the eldest of the tycoon’s five children with his second wife Lucina Laam King Ying, signed an agreement with the Fok Foundation, Lanceford and Interdragon to maintain STDM’s 54 per cent stake in…

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