Gaming | Deal between SJM and Grand Emperor extended for 2 years

A satellite casino arrangement between gaming concessionaire SJM Holdings Ltd and the Grand Emperor Hotel has been extended for another two years.
The service agreement was signed by Tin Hou Ltd, a Macau firm indirectly wholly-owned by Emperor Entertainment Hotel Ltd, which is in turn indirectly owned by Emperor International Holdings Ltd.
The agreement allows the hotel firm to continue to be able to use SJM’s gaming concession to conduct casino activities on site under a system widely but informally known as “satellite properties.”
The Hong Kong Stock Exchange was notified of the agreement-extension on Wednesday.
According to the filing, Tin Hou will also reimburse SJM for both “costs and expenses concerning the resources allocated [by the license holder] to the gaming area.”
The deal also states that Tin Hou will be entitled to a share of the gross wins and losses of the monthly operating performance of the gaming area located within the hotel. RM