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The Macau Government has approved a five-year concession for Macau company STDM to operate the Macau Outer Harbour Ferry Terminal. The contract was signed between the Secretary for Transport and Public Works, Raimundo do Rosário and STDM after the end of the open bidding for the ferry terminal operating contract.
According to Macau news reports, the contract would allow STDM control over the operating hours of Outer Harbour Ferry Terminal and the right to use the terminal’s facilities, including waiting rooms and berths.
However, as part of the contract, STDM will also pay a rent corresponding to 18% of its pre-tax profits, in addition to the MOP$1.8m (US$0.2m) monthly payment which is disbursed quarterly.
STDM, short for Sociedade de Turismo e Diversões de Macau, is owned by the Stanley Ho family of Macau, who also owns SJM Holdings, with several Macau casino-hotels under their ownership including SJM Resorts and the Grand Lisboa. STDM also owns Jet Asia, an aviation business providing private jet services.
SJM Holdings saw a significant rise in revenue this year in their Q1 2024 reports, with total net revenue amounting HK$6.92bn (US$0.89bn). Its Managing Director, Daisy Ho, also a member of the Stanley Ho family, has also announced plans to refurbish the Grand Lisboa early next year.
In similar news, earlier this week Crystal Cruises agreed to a deal with Monte-Carlo Société des Bains de Mer (SBM), bringing casinos to sea on two of their currently operating vessels.
