SOCIEDADE DE JOGOS DE MACAU OPENS 20TH CASINO macauhub.com.mo
The L’Arc casino, owned by Stanley Ho’s Sociedade de Jogos de Macau (SJM) was inaugurated Monday in Macau. The cost of the project is estimated to be US$352 million. The new casino opened with over 100 mass tables, 50 VIP tables, and 400 slot machines. The casino is situated within the L’Arc New World Hotel, a five-star unit with 301 rooms and 39 suites that covers 7,128 square meters. SJM now operates 20 of Macau’s 33 casinos.
L’Arc represents a 3% and 4% increase to the Mass and VIP table count, respectively, in Macau.
MACAU CAPS JUNKET FEES AT 1.25%, CUTTING CASINO COSTS Bloomberg.com
Macau is to limit the commissions paid to junket operators to 1.25% of the VIP chips. The policy will be implemented with current and future commissions, according to Francis Tam, Macau’s secretary for economics and finance in the government gazette yesterday. Macau’s six gaming concessionaires lobbied the government for the change. The commission cap will cut casino operators’ costs.