Kam Pek Paradise Casino in Zape, one of the city’s remaining five “satellite casinos”, will close for good after midnight on Monday next week, the Gaming Inspection and Coordination Bureau (DICJ) announced in a statement yesterday.
“Kam Pek” means “Golden Jade”.
The government announced in June that in compliance with the three-year transition period stipulated by the new legislation amending the gaming law, all of the city’s then 11 satellite casinos had decided to close for good by December 31 this year. Grandview Casino in Taipa, which closed in late July, was the first of them to cease operations.
After Grand Dragon Casino, also in Taipa, closed in September, two satellite casinos in the peninsula, namely Emperor Palace Casino in Nam Van district and Waldo Casino in Zape, ceased operations late last month.
Legend Palace Casino, located in the Macau Fisherman’s Wharf entertainment complex in Nape, closed for good two weeks ago, while Casa Real Casino in Zape ceased operations on Friday night last week.
Ponte 16 Casino located in the Ponte 16 hotel resort in the Inner Harbour district will close for good after midnight tomorrow.
Consequently, Kam Pek Paradise Casino will be the eighth to cease operations. After its scheduled closure early next week, there will still be three satellite casinos in Macau.
Unlike all other satellite casinos which were or are located in hotels, Kam Pek Paradise Casino is housed in an office building, namely on the first to fifth floors of San Kin Yip Commercial Centre on Avenida da Amizade, near Hotel Lisboa.
After Kam Pek Paradise Casino’s closure, the three satellite casinos still in operation comprise Fortuna Casino located in Hotel Fortuna in Zape, Landmark Casino located in New Orient Landmark Hotel in Zape, and Le Royal Arc Casino located in L’Arc Hotel in Nape.
The so-called satellite casinos in Macau are formally owned by gaming concessionaires but are actually run and managed by third parties as they are housed on premises that are not owned by the respective gaming concessionaires.
After the three-year transition period, which is scheduled to end on December 31 this year, all satellite casinos must close, unless the respective gaming concessionaire chooses to hire a “management company” to operate the casino. However, such a management company is only allowed to receive a management fee from the respective gaming concessionaire, no longer being permitted to share in the casino’s revenues.
The three respective gaming concessionaires, SJM, Galaxy, and Melco, decided in June to terminate the operations of all 11 satellite casinos before the expiration of the transition period based on their respective commercial decisions, meaning that none of the three gaming concessionaires decided to continue operating these casinos through the hiring of management companies after December 31 this year.
Among the 11 satellite casinos, Waldo Casino was formally owned by Galaxy, while Grand Dragon Casino was owned by Melco, with the other nine by SJM.
Unlike its other satellite casinos, SJM has signed an agreement to acquire the ownership of L’Arc Hotel in order to convert Le Royal Arc Casino into a “directly-operated” casino after its scheduled closure as a satellite casino. After the acquisition gets off the ground, Le Royal Arc Casino will continue operating, but no longer as a third-party managed business but as a casino directly operated by SJM.
Yesterday’s DICJ statement announced that after business negotiations, Kam Pek Paradise Casino’s third-party operator and SJM decided to terminate the operations of the casino after 11:59 p.m. on Monday next week, i.e., it will cease operations from Tuesday next week.
The statement pledged that the Gaming Inspection and Coordination Bureau, in collaboration with the Labour Affairs Bureau (DSAL), will ensure that SJM fulfils its promise to ensure the employment of those working at Kam Pek Paradise Casino after its closure.
According to the statement, there are currently 584 employees working at Kam Pek Paradise Casino.
Pedestrians cross the road outside Kam Pek Paradise Casino in Zape last night. – Photo: Tony Wong
