The satellite casino will close next month.
Macau.- SJM Resorts’ Casino Fortuna, the satellite gaming venue in House Fortuna on Macau’s peninsula, will cease operations on December 10. The casino’s promoter, Kou Seng Holdings, announced the date in an internal note.
According to the promoter, the employment contracts of all Casino Fortuna staff will be formally terminated on December 10, the same day the venue closes. The company will provide “relevant compensation” calculated in accordance with Macau’s Labour Relations Law.
Casino Casa Real closed on November 21 while Casino Ponte 16 will shut on November 28. After Fontana, SJM Resorts will be left with just two satellite casinos in Macau: Casino Landmark and Casino Kam Pek Paradise. These will be the last to shut. Other concessionaires, including Melco Resorts and Galaxy Entertainment, have already closed their satellite operations.
Macau’s new gaming law prohibits revenue-sharing models between concessionaires and property owners. Operators wanting to maintain control of satellite casinos must purchase the buildings and absorb them into their core operations. SJM Group has made such move by agreeing to acquire Arc of Triumph Development, owner of L’Arc Hotel.
The satellite casino will close next month. Macau.- SJM Resorts’ Casino Fortuna, the satellite gaming venue in House Fortuna on Macau’s peninsula, will cease operations on December 10. The casino’s…
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