SJM abandons Ponte 16 acquisition as Macau casino closes on 28 November
SJM Holdings said it will not proceed with acquiring Ponte 16 in Macau. Under a termination agreement with subsidiary Pier 16 Entertainment Group, the casino will close at midnight on 28 November, with its gaming tables and machines moving to other SJM casinos. SJM said local employees will be reassigned, while other Ponte 16 workers can apply for vacancies within the group.
The closure will relocate gaming equipment and affect employment at a Macau satellite casino.