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China – Emperor Entertainment back operating Grand Emperor satellite casino

By - 3 January 2023

Emperor Entertainment Hotel is back operating its satellite casino at its Macau hotel Grand Emperor, having previously opted not to renew its contract and given it back to licence holder SJM Resorts.

Emperor E said the award of the new gaming concessions had ‘provided a clearer visibility in the future development of Macau’s gaming industry.’

It explained: “Given the gaming facilities are retained in Grand Emperor Hotel all along, under the conditions that no additional capital expenditure is required and the gaming operation being a concrete and continuous revenue and profit contributor to the Emperor E Hotel Group prior to the outbreak of COVID-19, the Emperor E Hotel Group’s management believes that it is in the best interest of the Emperor E Hotel Group to enter into the Agreement with SJM, enabling the Emperor E Hotel Group to fully utilize its assets and space in Grand Emperor Hotel.”

“The reopening of Macau’s border and the lifting of quarantine requirement upon arrival will drive an increase in visitation to Macau, which is a catalyst to Macau’s gaming industry,” Emperor E added. “With the recent infrastructure developments that enhance access to Macau, Macau’s position in Greater Bay Area, as well as Macau Government’s determination to become a world center of tourism and leisure, the Emperor E Hotel Group’s management is confident in Macau’s tourism recovery and its medium to long term growth prospects, and is prepared to capture the opportunities when the market revives.”

Emperor E will receive a percentage of the GGR on a monthly basis, capped at HK$100m for the three months to the end of its financial year on March 31 2023, rising to HK$400m for the year ended March 31 2024, HK$600m for the year ended 31 March 2025 and HK$700m for the nine months to 31 December 2025.

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