Macao’s government has approved SJM Resorts’ plan to operate the former satellite casino L’Arc, which it began doing from 2 am today, multiple gaming outlets report. L’Arc’s acquisition by SJM Holdings – the gaming concessionaire’s parent company – was completed earlier this month.
The change follows SJM’s acquisition of the entire issued share capital of L’Arc’s parent company, Arc of Triumph Development Company Limited. A sum of HK$1.75 billion (US$224.8 million) was paid for the whole L’Arc Hotel complex.
In a press release, SJM said the acquisition strengthened its brand in a high-density entertainment and hospitality area while “enhancing synergies” with its other Lisboa-branded properties. The company added that the move would help it retain the former satellite’s loyal customers, improve customer circulation and broaden its market reach.
SJM announced in June that it would shut seven of its nine satellite casinos by the end of this year in line with Macao’s revised gaming law. While the operator had initially planned to absorb both L’Arc and Ponte 16 into its core business, the latter’s deal did not go ahead and Ponte 16 ceased operations in November.
[See more: End of an era: SJM will close Macao’s final satellite casino by year’s end]
The last remaining SJM satellite casino, Landmark, is scheduled to close permanently at midnight tonight, marking the end of an era. The two satellite casinos operated by third parties under licenses from Galaxy Entertainment shut up shop earlier this year.
SJM has had a tough time with its satellites closing, leading some analysts to express concern around its high levels of debt and shrinking market share.
In 2024, Macao’s 11 satellite casinos generated a combined gross gaming revenue (GGR) of HK$5.2 billion, accounting for just 2.3 percent of the city’s total. However, the venues supported nearby small businesses – whose owners worried their customer numbers would plummet with the casinos’ closures. The government has pledged to help invigorate these areas through launching new spending schemes and targeted events.
