The Macau operator has extended the services deal with its controlling shareholder.
Macau.- SJM Holdings has renewed a master services agreement with its controlling shareholder Sociedade de Turismo e Diversões de Macau (STDM). It’s also updated arrangements related to casino chips while terminating a retail shop agreement at its Grand Lisboa Palace resort.
According to a company announcement, SJM and the STDM Group signed a renewed Products and Services Master Agreement on March 5, covering a range of operational services. The agreement took effect retroactively from January 1, 2026 and will run through December 31, 2026.
Under the terms, STDM will provide services including hotel accommodation for gaming patrons, promotional and advertising support, food and beverage supply, transport services, maintenance, laundry services and hotel management and operational support.
As usual, SJM set annual caps for certain transactions. Spending on hotel accommodation services is capped at HK$96.6m (US$12.4m) for 2026, while promotional and advertising services are capped at HK$27.3m (US$3.5m).
SJM also confirmed that its Chips Agreement with STDM will remain in effect. The arrangement dates back to 2008 and regulates the honouring and redemption of STDM-issued casino chips that remain in circulation.
While SJM Resorts now uses its own supply of casino chips and no longer borrows from STDM, some of older chips remain outstanding in the market. The board therefore approved new annual caps of HK$75.8m (US$9.7m) for potential redemptions in each of the years from 2026 through 2028.
Separately, SJM Resorts agreed with New Yaohan Holdings (NYH) to terminate the existing Right to Use a Shop Agreement, which relates to the operation of the New Yaohan department store at the Grand Lisboa Palace Resort in Cotai.
The agreement will end on December 31, 2026, with the termination taking effect from January 1, 2027. NYH will pay compensation of HK$31.9m (US$4.1m) to SJM through a combination of deposit offsets, vouchers and cash payments.
SJM said the termination will allow both parties to implement a smooth transition while enabling the operator to reposition the retail space to align with evolving consumer preferences.
The Macau operator has extended the services deal with its controlling shareholder. Macau.- SJM Holdings has renewed a master services agreement with its controlling shareholder Sociedade de Turismo e Diversões de Macau (STDM). It’s also updated arrangements related to casino chips while terminating a retail shop agreement at its Grand Lisboa Palace resort. According to…
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