The SJM announced that Ponte 16 “will officially cease operations at 23:59 [15:59 in Lisbon] on Friday, November 28,” marking the closure of the group’s fifth ‘satellite casino’.
In a statement, SJM, founded by gaming magnate Stanley Ho Hung Sun (1921-2020), emphasized that all local employees directly hired by the company are guaranteed employment.
SJM explained that staff with resident status in Macau will be “transferred to other company casinos to perform gaming-related duties, according to operational needs.”
Local employees not directly hired by SJM Resorts “are invited to apply for related vacancies” within the group, “with priority for hiring” and under conditions equal to those they had.
Additionally, the Macau Gaming Inspection and Coordination Bureau (DICJ) assured that it will “rigorously supervise the closure procedures” of Ponte 16 on-site.
Regarding the casino’s 1,025 employees, the DICJ, in a press note, guaranteed continued communication with the Labour Affairs Bureau to ensure compliance with SJM’s guarantees, namely “the relocation of all mentioned workers.”
SJM highlighted that “all currently operational gaming tables and machines at the site will be transferred to other company casinos.”
As the world gambling capital, Macau is the only place in China where casino gambling is legal.
DICJ allocates each of the six concessionaires – MGM, Galaxy, Venetian, Melco, Wynn, and SJM – a maximum quota of gaming tables and machines that they can install in the casinos they operate.
On June 9, the Macau Government announced that gaming concessionaires had communicated the end of operations of 11 ‘satellite casinos’, where around 5,600 residents worked.
However, SJM revealed plans to acquire the hotels where two are located – Ponte 16 and Royal Arc – and to request the authorities to assume direct management of the spaces.
But today, SJM announced that, “following a comprehensive business review”, it will not purchase Ponte 16 from the hotel-casino owner, the Pier 16 Entertainment Group, which is a partnership between SJM itself and the Success Universe Group.
“The decision was made after a meticulous evaluation of long-term business planning, commercial considerations, and resource prioritization,” reflecting “the company’s disciplined approach to capital allocation,” assured SJM.
The operator ended the third quarter with debt amounting to 27.3 billion Hong Kong dollars (3.05 billion euros), a figure similar to that recorded at the end of March.
In contrast, also today, SJM confirmed the acquisition of the company that owns the hotel where the Royal Arc is located for 1.75 billion Hong Kong dollars (195.2 million euros).
The ‘satellite casinos’, under the concessionaires’ supervision, are managed by other companies, a legacy of the Portuguese administration that existed before the gaming liberalization in the territory in 2002.
When the legislation regulating casinos was changed in 2022, a deadline of the end of 2025 was set for ending the activities of these gaming spaces.
The first casino to close was Grandview at the end of July, under SJM’s supervision. Emperor Palace closed its doors at the end of October, while Legend Palace ceased operations on November 12. Casa Real will close on Tuesday.
