THE MACAU METRO MONITOR, NOVEMBER 25, 2013
SJM AWAITS VERDICT ON A SECOND COTAI BLOCK Macau Business
SJM expects the government to update the company soon on its request for a second block of land in Cotai. “We are still waiting for that lot and we hope to hear from the Macau government soon. We have submitted our plans there, but we are waiting for a reply,” CEO Ambrose So said. The extra land the company wants is thought to be near the Studio City casino. In May, the government granted SJM the right to develop more than 70,000 square metres of land near the Macau Dome.
SJM COTAI PROJECT MODEL TO BE PRESENTED EARLY NEXT YEAR Macau Daily Times
SJM CEO Ambrose So said that they are going to publicize the ideas behind the conceptualization of their Cotai project. He disclosed that they are currently improving the condition of the soil, and will have to fully analyze it. He also revealed that the project is almost finished and is awaiting the government’s approval to begin construction. So hopes that the project can start in 1Q 2014.
SJM CONFIRMS LEASEBACK DEAL FOR CASINO JAI ALAI Macau Business
Casino Jai Alai, until last year thought to be wholly owned by SJM Holdings Ltd, will be leased back to the company for the next three years. SJM Holdings told the Hong Kong Stock Exchange that the deal means a company controlled by businesswoman Angela Leong On Kei would receive up to HK$180 million (US$23.2 million) a year for three years from January 1.