MACAU DAILY TIMES 澳門每日時報SJM Expands Culinary Reach with Strategic Acquisitions

Kam Pek Community Center, a three-story building purchased by SJM for HKD 166 million to be redeveloped into a mass food and beverage outlet

Macau casino operator SJM Holdings announced two separate agreements to acquire subsidiaries of its parent company, Sociedade de Turismo e Diversões de Macau SA (STDM), for a total value of HKD 197.5 million. The deals are aimed at strengthening the company’s “culinary leadership position” and strengthening its mass market presence in the Macau market.

In the first transaction, SJM will acquire Kam Pek Community Center, a three-story building located on Avenida de Almeida Ribeiro, for HKD 166 million. The company plans to renovate the property and transform it into a mass food and beverage outlet, creating a “culinary anchor” at one end of the avenue, with SJM Grand Lisboa and Hotel Lisboa at the other end.

“This acquisition not only fulfills the group’s non-gaming investment commitment set out in the gaming concession agreement, but is also a strategic initiative to develop a vibrant culinary hub in the heart of the historic city and enhance Macau’s attractiveness as a top international travel destination,” she said SJM Chairperson Daisy Ho.

In the second transaction, SJM acquired the entirety of the shares and a loan from a related shareholder to NYH European and NYH Italian – two subsidiaries of STDM that are developing new restaurant concepts at the Grand Lisboa Palace resort in Cotai. The total transaction price is HKD 31.5 million.

“These additions are part of a broader initiative to optimize our food and beverage portfolio at Grand Lisboa Palace, which is in line with SJM’s strategy to attract the mass market with a diverse offering of international restaurants and cafes,” the company said.

“Acquisitions represent ideal opportunities due to both their excellent locations and complementary nature to our existing operations,” Ho said. Staff reporter

Related