Emperor E Hotel signs two-year extension with SJM to run Macau's Grand Emperor casino and hotel - IAG
Wednesday 13th May 2020
Emperor Entertainment Hotel Ltd has signed an extension to its agreement with Macau gaming concession holder Sociedade de Jogos de Macau, S.A, a subsidiary of SJM Holdings, to continue providing management services at Grand Emperor Hotel, located on the Macau Peninsula.
The "1st Addendum" to the previous 10-year agreement signed in April 2010 will see Emperor E Hotel and its wholly-owned subsidiary Tin Hou continue providing services at Grand Emperor until 26 June 2022 - the date upon which SJM's gaming concession expires.
Under the terms of the 1st Addendum, Emperor E will be entitled to a share of gross win and gross loss from casino operations, capped at HK$800 million for the 2021 financial year, HK$1.2 billion in 2022 and HK$300 million in 2023. Emperor E Hotel's financial year runs until 31 March.
Grand Emperor is one of 16 so-called "satellite" casinos running under license of SJM but managed by third parties.