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China – SJM to buy Oceanus from its parent company STDM

By - 27 May 2022

Macau operator SJM Holdings has confirmed that it will buy Oceanus from its parent company STDM with a pledge to give the Oceanus gaming area back to the Macau government at the end of the year.

It could yet buy back the 13,576 square meters gaming floor from January 1 if it secures a new licence when they are up for renewal at the start of next year

SJM Holdings will buy the property with HK$1.906bn worth of five-year convertible bonds to STDM with an annual interest rate of two per cent. The Oceanus non-gaming area is said to be worth HK$516 million with the gaming area worth HK$1.39bn This would take STDM’s share in SJM from the current 54.7 per cent to 58.1 per cent.

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