Secretary for transport and public works Raymond Tam has authorised the HK$1.75bn (US$224m) deal.
Macau.- The government of Macau has approved SJM Resorts‘s purchase of L’Arc Hotel hotel and casino, allowing it to absorb the satellite venue into its core operations. Secretary for transport and public works Raymond Tam signed off on the approval of the HK$1.75bn (US$224m) deal between SJM and Arc Of Triumph Development Company Limited.
According to government officials, gaming and tourism regulators found no issues with the proposal, which was approved by SJM Holdings’ independent shareholders in an extraordinary general meeting on December 15.
Located on one of Macau’s busiest streets near Wynn Macau and MGM, the five-star, 22-storey hotel has over 86,000 square meters of hotel and casino space. It ill be converted into a fully self-operated casino.
Secretary for transport and public works Raymond Tam has authorised the HK$1.75bn (US$224m) deal. Macau.- The government of Macau has approved SJM Resorts‘s purchase of L’Arc Hotel hotel and casino,…
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