The Macau Special Administrative Region Government provisionally adjudicated a new 10-year gaming concession to SJM Resorts, S.A. on 26 November 2022, according to an inside information announcement from SJM Holdings Limited, the subsidiary's parent company1. The new concession takes effect from 1 January 20231.
SJM Resorts, S.A. is the principal subsidiary of SJM Holdings Limited, a company listed in Hong Kong1. The announcement was made under Rule 13.09(2) of the Hong Kong Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance1. It was signed by Ho Chiu Fung, Daisy, chairman and executive director, and dated Hong Kong, 27 November 20221.
The Macau SAR Government is negotiating the final terms of the concession agreements with each of the six companies that have been provisionally awarded a concession, the announcement said1. It did not name the other five companies, and no details of the concession terms, fees or conditions were given1. SJM Holdings said a further announcement would be made in due course1.
"The Macau SAR Government is negotiating the final terms of the concession agreements with each of the six companies that have been provisionally awarded a concession."
The announcement also advised shareholders and potential investors to exercise caution when dealing in the company's shares1.
What it means for players
SJM Resorts operates casino properties in Macau, and the provisional award covers a 10-year term beginning 1 January 20231. For anyone gambling in Macau, the practical effect described in the announcement is continuity of the operator's concession beyond the end of the current licensing period, subject to final terms still being negotiated1. The announcement does not set out any changes to casino floor operations, table games, slot machines, entry requirements or player-facing rules, and none have been reported here1.
Because the concession is described as provisional and the final terms are still under negotiation with all six companies, the terms that will apply from 1 January 2023 have not been published1. The announcement gives no information on which properties are covered, whether branding or management arrangements change, or how the award affects the other five provisional winners1. Players looking at how Macau casino licensing works, and how to check which operators hold which licenses, can read the guide to gambling regulators and licenses in Asia and the guide to gambling in Macau. For the separate question of lottery-style games in Macau, see Toto Macau and New Macau Mark Six.
What happens next
The Macau SAR Government is negotiating final concession terms with each of the six provisionally awarded companies1. SJM Holdings said it will make a further announcement in due course1. No date has been given for the conclusion of those negotiations or for the further announcement1.
