Content Writer: Janice Chew • Friday, 25/12/2025 - 23:32:23 - PM
SJM Holdings has officially confirmed that Casino Fortuna, one of its long-running satellite casinos, will cease operations on 31 December 2025, marking another contraction of Macau’s once-large satellite network. The closure follows the expiry of the sub-concession-era contracts that allowed independent hotel owners to run casinos under SJM’s licence. Multi-source industry commentary has consistently noted that satellite properties have struggled under the city’s post-2022 regulatory framework, which requires tighter operational control by concessionaires and higher compliance standards.
Casino Fortuna, located near the Inner Harbour, has long been considered one of SJM’s smaller and more dated properties, and analysts say the economics no longer justify continued operations. This aligns with earlier multi-source assessments (JP Morgan, CLSA reports) highlighting weak foot traffic, limited amenities, and rising labour and compliance costs at older satellites. SJM’s ongoing portfolio optimisation — which saw previous closures of Casino Casa Real and Grand Dragon — reflects a broader shift toward strengthening operations at flagship properties like Grand Lisboa Palace.
The closure also mirrors the industry-wide reduction of satellite casinos across Macau. Before the city’s gaming law overhaul in 2022, there were nearly 20 satellite casinos, most operated under third-party management agreements. Multi-source data from Macau’s Gaming Inspection and Coordination Bureau (DICJ) shows that fewer than six remain operational today. Analysts from Bernstein and Morgan Stanley have repeatedly flagged that concessionaires prefer focusing on IR-scale developments, integrated non-gaming attractions, and compliance-heavy centralised management instead of maintaining fragmented satellite partnerships.
For employees of Casino Fortuna, SJM stated it will reassign staff to other properties, in line with labour commitments emphasised by Macau authorities. Multi-source labour coverage from MNA and TDM Macao has pointed out that past satellite closures — including SJM’s earlier ones — typically involved redeployments rather than layoffs, reflecting government pressure to maintain employment stability in the gaming sector.
Looking ahead, Fortuna’s closure reinforces the structural shift in Macau’s casino environment: a transition toward fewer, larger, and more regulated operations, with satellites playing a diminishing role. With Macau’s recovery increasingly reliant on premium mass, tourism diversification, and major-event attractions, older satellite rooms with limited amenities face mounting commercial and regulatory headwinds, making further consolidation likely.