Emperor Entertainment Hotel Ltd announced that it has signed an agreement with gaming operator SJM to continue managing the Grand Emperor Hotel until June 26, 2022.
The deal continued a 10-year service agreement established in 2010 until the date when SJM’s gaming concession is set to expire, which was also extended by two years by the Macau SAR government.
The service management agreement was signed on May 13 by Tin Hou, an indirectly wholly-owned subsidiary of Emperor E Hotel, which is in turn indirectly non-wholly-owned by the Emperor International group.
The agreement allows Tin Hou together with the nominated gaming promoter, a subsidiary of Tin Hou and indirectly wholly-owned by Emperor E Hotel to be entitled to a share of the gross win and gross loss in respect of the monthly operating performance of the hotel’s casino, which operates under the SJM gaming license.
However, Tin Hou has to reimburse SJM for all costs and expenses in relation to the resources allocated by the gaming operator to the Grand Emperor Hotel casino.
SJM, through its indirect wholly-owned subsidiary, also holds a 19.99 per cent equity interest in Luck United, a company indirectly owned as to 80 per cent by Emperor E Hotel
Emperor E Hotel has as its Executive Directors, Wong Chi Fai and Vanessa Fan Man Seung.