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SJM HOLDINGS, Tin Hou Ink Termination Deal; Casino Emperor Palace to Cease Operations Early Thur Night
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SJM HOLDINGS (00880.HK) has issued an announcement regarding the provision of services by Tin Hou, an indirect wholly-owned subsidiary of EMPEROR E HOTEL (00296.HK), to its principal subsidiary, SJM Resorts, in the gaming area of Grand Emperor Hotel, Macau, as well as its board's decision not to continue gaming operations of certain satellite casinos, including Casino Emperor Palace. SJM HOLDINGS stated that, taking into account overall business planning and commercial considerations, SJM Resorts and Tin Hou mutually agreed and entered into a termination agreement today (27th), pursuant to which the agreement will be early terminated with effect from Friday (31st). Upon termination, Tin Hou will cease to provide the services to SJM Resorts, and the Casino Emperor Palace will cease operations. Casino Emperor Palace will officially cease operations ahead of schedule at 23:59 on Thursday (30th). Following the termination, all gaming tables and gaming machines currently operating at the location will be redeployed to other casinos of SJM Resorts. Furthermore, all local employees employed by SJM Resorts will remain employed and be reassigned to other casinos of SJM Resorts to undertake gaming-related roles according to operational needs. Local employees working at Casino Emperor Palace who are not employed by SJM Resorts will be invited to apply for related vacancies within the group with priority in hiring under equal circumstances, and will be provided with the necessary support, depending on the actual situation, to facilitate a smooth transition. AAStocks Financial News |
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