A New Era for Macau's Outer Harbour: STDM's Five-Year Concession

Key Takeaways

• STDM secures a five-year concession to operate the Macau Outer Harbour Ferry Terminal, enhancing control over its facilities and operations.
• The agreement includes STDM paying 18% of its pre-tax profits in rent, on top of a MOP$1.8m monthly payment.
• This move complements the rising revenues of SJM Holdings and plans for the refurbishment of the Grand Lisboa, signaling a period of growth and expansion for the Stanley Ho family's business ventures.

In the bustling heart of Macau, a significant development unfolds as the Macau Government has officially green-lighted a five-year concession for the local powerhouse, STDM, to take the reins at the Macau Outer Harbour Ferry Terminal. This decision, marking the culmination of an open bidding process, was sealed with a contract between Secretary for Transport and Public Works, Raimundo do Rosário, and representatives from STDM.

STDM, or Sociedade de Turismo e Diversões de Macau, is not just any company. It's a legacy, owned by the Stanley Ho family, a name synonymous with the evolution of Macau's entertainment and tourism industry. The company's portfolio is impressive, spanning several casino-hotels under SJM Resorts and the iconic Grand Lisboa, not to mention their aviation venture, Jet Asia.

The agreement hands STDM the keys to significantly influence the operation of the Outer Harbour Ferry Terminal. From controlling operational hours to utilizing the terminal's facilities, including waiting rooms and berths, STDM is poised to optimize the travel experience for millions. However, the deal is not without its obligations. STDM will contribute 18% of its pre-tax profits in rent, alongside a fixed monthly payment of MOP$1.8m, disbursed quarterly, a testament to their commitment and confidence in this venture.

This strategic move comes at an opportune time, as SJM Holdings, another gem in the Stanley Ho family's crown, reports a surge in revenue in Q1 2024, with numbers reaching a staggering HK$6.92bn (US$0.89bn). At the helm, Daisy Ho, SJM's Managing Director and a scion of the Stanley Ho lineage, has announced ambitious plans to refurbish the Grand Lisboa, further cementing the group's commitment to elevating Macau's status on the global tourism and entertainment map.

Parallel to this, the seas are also witnessing a wave of innovation with Crystal Cruises and Monte-Carlo Société des Bains de Mer (SBM) navigating a partnership that will introduce casinos to the high seas, aboard two of Crystal Cruises' operational vessels.

As Macau continues to evolve, these developments signal a new chapter in its journey, blending tradition with innovation. The STDM concession at the Outer Harbour Ferry Terminal is more than just a contract; it's a statement of growth, expansion, and the enduring legacy of the Stanley Ho family in shaping the future of Macau's tourism and entertainment landscape.

What do you think this means for the future of travel and entertainment in Macau? Share your thoughts in the comments below, and let's dive into a discussion on the exciting transformations unfolding in this vibrant city!