Shareholders of SJM Holdings approved the company's HK$1.75 billion (US$225 million) acquisition of the L'Arc Hotel complex, including Casino L'Arc Macau, on the Macau peninsula, at an extraordinary general meeting held on Monday1. About 99.93 percent of votes cast were in favor of the deal, the company said in a filing to the Hong Kong Stock Exchange1. The acquisition was first proposed in late November and now awaits final regulatory approvals from Macau authorities, described as the last major hurdle before completion1.
After the acquisition, Casino L'Arc Macau will no longer operate under a service agreement as a satellite casino, a venue run by a third-party entity under the license of one of Macau's six concessionaires. It will instead become a wholly owned and self-managed asset under SJM Holdings1. Under the terms of the deal, subsidiaries of SJM Holdings will assume control of Goldarch Holdings Limited and Solar King Investments Limited, the entities that currently own the L'Arc Hotel. Both companies are linked to Angela Leong On Kei, co-chairperson and executive director of SJM Holdings, and the fourth consort of the late Stanley Ho Hung Sun1.
The transaction comes weeks before the end of a three-year transition period for satellite casinos. Under Macau's revised gaming law, which came into effect in late 2022, casinos must now operate within properties owned by the gaming concessionaires1. At the beginning of 2025, 11 satellite casinos were still in operation. With the acquisition of L'Arc, it will be the only one to transition into a self-managed casino by gaming operators; the remaining 10 have either ceased operations or are scheduled to close1.
SJM Holdings chairman and executive director Daisy Ho said in November that the deal offered strategic value because of the property's location1.
"[The L'Arc Hotel] is centrally located within the active cluster of gaming, hospitality and visitor traffic on the Macau Peninsula, where the combined pull of surrounding landmarks and attractions creates opportunities that few locations can match."
"With the casino currently operating below its full potential, we see considerable room for growth as part of a stronger, integrated network under SJM Resorts."
SJM Holdings also announced in November that it would not proceed with the acquisition of another satellite casino business it had previously considered, Casino Ponte 16 in the Inner Harbour district1.
| Satellite casino transition | Status |
|---|---|
| Casino L'Arc Macau | To become self-managed under SJM Holdings |
| Casino Landmark, New Orient Landmark Hotel, NAPE | Closes 11:59 pm, 30 December |
| Remaining satellite casinos (from 11 at start of 2025) | Ceased operations or scheduled to close |
What it means for players
Casino L'Arc Macau will keep operating, but under direct management by SJM Holdings rather than a third-party operator, once the deal clears its final regulatory approvals1. For anyone gambling in Macau, the practical change is who runs the floor, not whether the venue exists. The wider shift is the end of the satellite model: Casino Landmark, inside the New Orient Landmark Hotel in the NAPE district, closes at 11:59 pm on 30 December, and its closure marks the end of a system that dates back to the 1990s1. Players who used satellite venues should expect the remaining floors to sit inside properties owned by the six concessionaires, as the revised gaming law requires1. Rules on entry, play and conduct inside Macau's casinos are covered in our guide to casinos and integrated resorts in Asia and in Can I Gamble in Macau?.
What happens next
The acquisition awaits final regulatory approvals from Macau authorities before completion1. Casino Landmark closes at 11:59 pm on 30 December1. No completion date for the L'Arc transaction has been reported.
