THE MACAU METRO MONITOR, AUGUST 13, 2013
REVAMP FOR SJM GAMING CONTRACT; KEEPS HARBOUR DREDGING Macau Business
SJM will have its gaming concession revised but the company will still be in charge of dredging the harbour and get the associated tax break, worth about MOP806 million (US$100 million) last year. Secretary Tam will review the contract’s provisions on dredging and the location of SJM’s casinos.
Dredging work will be transferred to SJM from parent company Sociedade de Turismo e Diversões de Macau SA, director Ambrose So said. The Gaming Inspection and Coordination Bureau said SJM would keep its tax break: a discount of 1% point on the urban development, tourism promotion and social security levy, now 2.4% of gross gaming revenue.