Closure of Mocha Grand Dragon Hotel completed smoothly, Mocha Hotel Royal next
Macau regulator coordinates cross-department effort to ensure orderly cessation of operations.
Macau regulator coordinates cross-department effort to ensure orderly cessation of operations.
The decisions are part of SJM Resorts' core business development strategy.
Macau's Gaming Inspection and Coordination Bureau (DICJ) has confirmed the closure of the slots venue in light of the satellite casino transition timetable.
Quarterly adjusted EBITDA up 28% quarter-on-quarter to HK$881m (US$113m) despite market headwinds.
The satellite casino is the latest to close as new legislation comes in regarding its operations.
Operating income was up 33.1% year-on-year, while net income was up from $12.7m to $62m.
Golden Week recovery and non-gaming initiatives drive city's best post-Covid-19-pandemic monthly performance.
The closing process for the SJM Operated location has involved multiple government departments to ensure legal compliance and employee support.
The company confirmed that its Chairman and CEO sold 300,000 shares as part of a planned financial diversification ahead of his move to senior advisor next year.
The eight-day festival, spanning 1-8 October, is one of the most important periods for the city's tourism and gaming industries.