Macau approves SJM L’Arc deal as Satellite Era ends

Macau authorities have approved the acquisition of the L’Arc Hotel and its casino operations by SJM Holdings, marking a significant step in the city’s restructuring of its satellite casino system. The approval was granted through an executive order signed by Raymond Tam Vai Man, authorising the transfer from Arc Of Triumph Development Company Limited to SJM Resorts and its subsidiary.

Official gazette filings confirmed that regulators reviewed the transaction and raised no objections, citing full compliance with gaming and tourism requirements. The deal allows SJM to acquire 100 percent of the hotel property and gaming facilities for HK$1.75 billion, including repayment of most of the target company’s HK$1.93 billion in debt. The vendor, Arc Of Triumph, is owned by Angela Leong, and the transaction received independent shareholder approval in December.

L’Arc Hotel is a 22-storey, five-star property located on the Macau Peninsula, close to major casino resorts. Under the agreement, Casino L’Arc Macau will transition from a satellite operation into a fully self-owned and self-operated casino. The existing service agreement will terminate once the transfer is completed.

The acquisition takes place against the backdrop of Macau’s amended Gaming Law, introduced with new 10-year concessions in 2023. The reforms require all casinos to be directly operated by concessionaires by the end of 2025, effectively ending the satellite casino model from 2026.

For SJM, the deal strengthens its core cluster around Casino Lisboa and Grand Lisboa. It also reflects a more selective consolidation strategy as the operator prepares for a more transparent, concessionaire-led gaming environment in Macau.