L’Arc Entertainment and Macau casino concessionaire SJM Resorts have inked a three-year deal to offer casino management services at the L’Arc Hotel on the Macau peninsula.
The agreement is retroactive to January 1, when new casino concessions began in the city, and will run through December 2025.
L’Arc Entertainment is wholly owned by Angela Leong, the fourth wife of late Macau casino titan Stanley Ho, chief administration officer at SJM Resorts and co-chair and executive director of its parent company, Hong Kong-listed SJM Holdings.
According to Inside Asian Gaming, the deal includes a revenue-sharing agreement that will be limited to HK$253.1 million (US$32 million) in 2023, then rise to HK$351.7 million (US$45 million) in 2024, and HK$450.1 million (US$57 million) in its final year.
SJM has nine satellite casinos operating under its license in Macau. Its agreement with L’Arc has been ongoing since 2009. In a statement, the company noted, “The directors, including the independent non-executive directors but excluding Ms. Leong, consider that entering into the Renewed L’Arc Services Agreement is a continuation of and in line with the group’s business of operating various casinos owned by third parties, which is in the ordinary and usual course of the business of the group.”
