For immediate release
SJM Receives Approval for Development of Integrated Casino
Resort in COTAI
HONG KONG, 19 October 2012 - SJM Holdings Limited (the
"Company") announced today that its subsidiary, Sociedade de
Jogos de Macau, S.A. ("SJM") has formally accepted a proposed
draft Land Concession Contract in the form of a lease granted
by the Macau Government to develop a five-star luxury resort
and casino on 70,468 square metres of land in the COTAI area
of Macau. The contract premium payable to the Macau
Government by SJM as determined by the Macau Government and
pursuant to the proposed draft Land Concession Contract will
be Macau patacas 2,150,504,955 (equivalent to approximately
HK$2,087,868,888).
SJM plans to develop a destination resort with total approved
building area of 521,435 square metres, including a casino
with up to approximately 700 gaming tables and 1,000 slot
machines, subject to obtaining applicable licences. The
resort will also include a full range of non-gaming
facilities, including first-class venues for dining, shopping
and entertainment, as well as approximately 2,000 hotel rooms
and suites. Construction will begin after the publication of
the Land Concession Contract in the Official Gazette of Macau
and is expected to take up to 36 months.
Dr. Ambrose So, Chief Executive Officer of SJM Holdings
Limited, commented "SJM's acceptance of the proposed draft
Land Concession Contract is a milestone development for the
Company as it offers the opportunity for the Group to expand
its existing operations from Macau Peninsula to COTAI. When
the resort is completed, more visitors will be able to enjoy
SJM's high standard of facilities and service, and Macau's
role as a world centre of tourism and leisure will be
enhanced."
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About SJM Holdings Limited
SJM Holdings Limited is the holding company of Sociedade de
Jogos de Macau, S.A. ("SJM"), one of
the six companies authorised to operate casino games of
fortune and other games of chance in casinos, under the terms
of a concession granted by the Government of the Macau
Special Administrative Region in March 2002. SJM is the only
casino gaming concessionaire with its roots in Macau, and is
the largest in terms of gaming revenue and number of casinos.
As at 30 June 2012, SJM operated 17 casinos and 3 slot
machine lounges, comprising more than 1,700 gaming tables and
over 3,700 slot machines. SJM Holdings Limited is traded on
the Main Board of the Stock Exchange of Hong Kong under stock
code 880.
Further information on SJM Holdings Limited can be found on
www.sjmholdings.com.
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