SJM will guarantee the workstations of closed satellite casinos linked to the group – Executive Director

Gambling operator SJM’s co-chairman and chief executive, Angela Leong On Kei, assured that the group would absorb any workers left unemployed by the closure of satellite casinos linked to the gambling concessionaire, Allin Media reported.

Currently, there are 18 operational satellite casinos out of a total of 40 casinos in the territory, 14 of these third-party promoted casinos operating under the license of gaming operator SJM Holdings Ltd while the remaining four are linked to Galaxy Entertainment Group (GEG) and Melco Resorts and Entertainment Ltd.

Emperor Entertainment Hotel Limited previously announced that its casino located at its Grand Emperor Hotel will cease operations due to the “challenging business environment resulting from the Covid-19 pandemic over the past two years”, along with its service agreement with the SJM game dealership set to expire on June 26.

Local government authorities have previously warned that gaming licensees would have a responsibility to take due care to protect the rights of employees who are made redundant at satellite casinos.

According to the report, in comments after the official opening ceremony of this year’s Macau International Dragon Boat Race draw, Leong stressed that SJM will “of course” guarantee the jobs of dealers operating in this satellite casino. .

The SJM executive director also said each satellite casino had its own owner and she could not respond on their behalf, but stressed that she was “very optimistic about the future of Macau”.

“I don’t think I can speak for him, but I’m very optimistic about Macau’s future. I believe in our government and our country,” she added according to the report.

A new version of the General Gaming Law introduced by the Macao SAR government allows satellite casinos to continue operating even if the property where they are located is not wholly owned by a gaming concessionaire, a reversal from to the previous position that could see these casinos closed if the situation has not been resolved within a transitional period of three years after the entry into force of the new law.

The previous draft text had led several industry insiders to warn that several satellite casinos in the city could be closed and increase the local unemployment rate.

A previous dispatch from investment bank Citi said SJM Holdings stands to benefit the most from changes included in the announced new version of the gambling bill, as they could help ease the group’s funding woes.

Asked about the changes, the lawmaker also replied that the government was still working on the review and the AL commission and that she would not “share its opinion” until a final version was received.

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