The government has granted Sociedade de Turismo e Diversões de Macau (STDM) a new contract allowing it to continue operating the Outer Harbour Ferry Terminal for a second term, Inside Asian Gaming reports.
The 60-month contract requires STDM to pay the government 18 percent of any pre-tax profits it earns from the terminal. This is a different arrangement to its previous contract, which began in November 2018. During that period, STDM made monthly payments of 1,800,800 patacas (US$224,000) to the government.
The new agreement also gives the government the right to cancel the contract if STDM’s cumulative share transfers during the grant period exceed 50 percent of its total number of shares.
[See more: How to get to Macao’s main attractions from the Outer Harbour Ferry Terminal by bus]
The government announced it would open a public tender for the terminal’s operating rights back in February, but never initiated the process. Instead, secretary for transport and public works Raimundo Arrais signed a notarised contract with STDM that allowed the company to continue running the terminal after its prior concession expired on 8 April.
Founded by Stanley Ho as Macao’s original casino operator, STDM is now the parent company of local gaming concessionaire SJM Resorts. It has been running the Outer Harbour Ferry Terminal since 2018, when it took over the facility from the DSAMA.
Tourism industry representatives have called for improvements to the terminal’s commercial spaces, which they say lack basic offerings that visitors expect. They also wanted rents to be lowered, reflecting the fact foot traffic volumes had not bounced back since Covid-19 restrictions were lifted at the start of 2023.
