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Macau – SJM to triple the size of its Cotai plot

By - 16 September 2013

SJM Holdings Ltd., Asia’s biggest casino operator, plans to invest in land that will triple the size of its planned casino resort in Macau’s Cotai area. SJM, founded by gambling mogul Stanley Ho, will buy a stake in a neighbouring plot controlled by the mother of Ho’s youngest children, CEO Ambrose So said, without giving a price. SJM plans to finalise terms of the purchase by the end of this year.

SJM is expanding in the increasingly popular Cotai area to catch up with rivals including Sands China Ltd. and Galaxy Entertainment Group Ltd. in the world’s largest gambling hub. SJM, which runs 20 of Macau’s 35 casinos, has none in Cotai and is the last of the Chinese city’s six casino operators to receive government approval to develop the resort in the area. “By combining the two pieces of land, we’ll have a bigger site to develop a full-fledged resort,” commented Mr. So. “The expansion will give us a leg up on competition with other casino operators.”

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