Sun May 26, 2019 19:57
English | 繁體 | 简体
Click here to toggle text size
SJM Holdings' (00880) gaming concession extended
15 Mar 2019
(Infocast News) On 15 March 2019, a Concession Extension Contract has been executed between the Macau Government and Sociedade de Jogos de Macau, S.A. (SJMSA), a subsidiary of SJM Holdings (00880), pursuant to which the gaming concession of SJMSA, which is due to expire on 31 March 2020, would be extended for a further period up to 26 June 2022 which coincides with the expiry date of other concessionaires so that all the original gaming concessions will expire at the same time.

SJMSA shall pay the Macau Government MOP200 million (HK$194 million) upon signing of the Concession Extension Contract as contract premium for such extension.

In addition, SJMSA has agreed to participate in the Non-mandatory Central Provident Fund under Macau Law No. 7/2017 within three months from the date of signing of the Concession Extension Contract.

At the same time, with the approval of the Macau Government, SJMSA has executed the MGM Sub-concession Extension Contract with MGM Grand Paradise, a sub-concessionaires of SJMSA, to extend its gaming sub-concession from 31 March 2020 up to 26 June 2022.

MGM Grand Paradise has agreed to pay a consideration of MOP20 million (HK$19.42 million) to SJMSA based on the continuation of the undertakings and obligations in the MGM Sub-concession Contract.

An application has been made to the Stock Exchange for resumption of trading in SJM Holdings' shares on the Stock Exchange with effect from 1:00 p.m. on 15 March 2019.

© Copyright Quamnet. All rights reserved. Republish the contents in whole or in part other than the authorized methods below, Quamnet reserves the right to proceed legal action.
Market Update
A founding member of:
China Tonghai IR:
Sitemap  |  About Us  |  Contact Us  |  Disclaimers     English | 繁體 | 简体  
Tonghai Financial:
China Tonghai International Financial Limited  |  China Tonghai Capital  |  China Tonghai Securities
Oceanwide Financial Management   |  Quamnet
Information of TonghaiIR (Investor Relations):
[Hong Kong Listed Company Information] [Financial News] [Announcement Alerts] [Free Delayed Stock Quote] [Chart]
[Hong Kong stock information]

TonghaiIR (Investor Relations) Services:
[Listed Companies Information] [Listed Companies Financial Information] [Listed Companies Announcements]
[Listed Companies Circulars] [Listed Companies News] [Press Releases] [Listed Companies Event Calendar]
[Listed Companies Presentations] [Proxy Forms]

China Tonghai IR (Investor Relations):
[Securities Firms] [Fund Houses] [Venture Capitals] [Financial Public Relations Agencies] [Financial Printers]
Investor Relations Dictionary:
[Listed Companies Result Announcement] [Financial Report] [Interim Report] [Annual General Meeting]
[Extraordinary General Meeting] [Board Meeting] [Annual Report] [Contact Listed Companies Investor Relations]
[Company Information Sheet] [Next Day Disclosure Return] [News Release] [IPO] [Prospectus] [Stock Quote] [Trading Volume]