MACAU BUSINESS SJM lifts maximum amount payable to STDM for hotel services G
aming operator SJM Holdings has announced an upward revision to the maximum amount payable to its parent company, Sociedade de
Turismo e Diversões de Macau, S.A. (STDM), for hotel room charges attributable to its selected gaming patrons and guests. Under the revised agreement, SJM will lift
the annual cap for hotel accommodation continuing connected transactions from HKD47.3 million (MOP48.7 million/US$6 million) to HKD65 million for the year ending December 31, 2023.
In a recent stock filing sent to the HK
Exchange, the company explained that the revision was a response to a strong growth in visitor arrivals, which has resulted in an increased occupancy at STDM hotels during the first three quarters of 2023.
For the first nine months, the
aggregate amount paid for hotel accommodation services reached approximately HKD29.5 million, representing 62.4 per cent of the unadjusted annual cap.
Light & Wonder reports 10th consecutive quarter of revenue growth G
aming supplier Light & Wonder has reported consolidated revenue of US$731 million (MOP5.89 billion), compared to the amount of US$648 million recorded in the same period of last year. According to the company which released its financial
results, it managed to deliver a 10thconsecutive quarter of revenue growth, and also a fifth consecutive quarter of double-digit growth year on year. “Consolidated revenue in the quarter grew 13 per cent, maintaining
strong margins and cash flow generation as we continued advancing toward our long-term financial targets,” it said. The growth was attributed to “double-digit growth” across all the
company’s businesses, including a fifth consecutive quarter of “record revenues” for SciPlay, one of its principal businesses.
Sands China lifts annual amount payable to LVS for transport service
S 22 JANUARY 2024
ands China has raised the maximum amount payable to the transport services provided by its parent company Las Vegas Sands Corporation, from US$8.8 million (MOP70.7 million) to US$10.8 million. The agreement that amended the annual cap for
the year ending 31 December, 2023, also broadened the scope of the Transportation and Related Research, Logistics and Technical Services provided by LVS Group. According to a stock filing sent to the HK Exchange on
Wednesday, the revision was made due to the increased business volume following the elimination of travel restrictions in late December 2022 and early January 2023. The calculated amount is based on a cost analysis,
considering the actual expenses incurred for transport services provided to patrons visiting or departing from the group’s properties.
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