The closure of most of Macau’s satellite casinos by the end of 2025 presents both challenges and opportunities for SJM Resorts S.A. On one hand, the company must manage the relocation of over 4,000 employees. On the other, it has a chance to boost performance at its flagship Cotai property, Grand Lisboa Palace (GLP).
Currently, SJM’s nine satellite casinos hold about 440 gaming tables. As these venues shut down, the Macau government confirmed the tables will return to SJM. Even if Ponte 16 and L’Arc remain operational through acquisition—keeping 176 tables—SJM will still gain 264 tables for reallocation.
This opens the door for growth. GLP, which features ample unused space, could absorb around 100 new tables. Compared to outdated satellite casinos, integrated resorts like GLP offer stronger revenue potential due to modern facilities and better customer programs.
Looking at recent examples, MGM China increased its Macau market share from 9% pre-COVID to over 15% by adding 198 gaming tables under the 2022 concession. While MGM’s gains also reflect innovation, a larger table count clearly helped performance.
SJM now aims to lift GLP’s market share from 2.8% to 6%. However, the decision to prioritize Ponte 16 and L’Arc over stronger-performing satellite casinos like Landmark or Fortuna has sparked debate. Internal dynamics, rather than revenue performance, may have driven the choice.
In the short term, SJM faces staffing cost pressure—similar to when earlier satellite casinos closed in 2023. The company’s response during this transition will be critical in defining its future role in Macau’s evolving casino landscape.
