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Angela Leung-on-K to become sole owner of Lark Macau

After purchasing PowerLink Fortune Limited and City Honor Development Limited parents, they own a 283-room L'Arc Macau venue exclusively.

Leung is the fourth consortium of the late Asian casino magnate Stanley Ho Hung Sun, who also serves as co-chairman and executive director of local gaming giant SJM Holdings Limited. Sources explained the 60-year-old entrepreneur completed the deal with an undisclosed amount on Monday in a bid to gain more control of the gambling-friendly property's Larch Entertainment operator.

Leung reportedly has a long history with downtown Lark Macao after joining the late Hong Kong real estate tycoon Cheng Yu-tung in 2009 to build the 53-story facility. In addition, the billionaire has said he will reportedly maintain a third-party "satellite" agreement until June of next year that sees SJM Holdings Limited operate an in-development casino that handles related VIP junket services with SunCity Group.

When compared to Leung's previous ownership of Lark Macau, where he served as 'one of the investors in the indirect holding company', he responded positively to the deal, reported that its completion represented 'significant changes', and the casino operator also reportedly declared that it will continue to supply impressive real estate through support services covering areas such as marketing, public relations, customer development, and introduction.

Despite the change in venue ownership, the decision to retain its existing contract with Lark Macau is in line with the business of the group that operates a "diverse satellite" casino. The operator is reportedly responsible for 14 "satellite" gambling companies spread across Macau, including the Hotel Golden Dragon and the Great Emperor Hotel.

SJM Holdings Limited, also responsible for the iconic Casino Grand Lisboa, previously announced that it expects to release a $50 bill for Grand Lisboa Palace development before the end of next month after nearly 88 months of construction. The Kotai Street venue will have its full premiere, offering 1,034 slots and 304 game tables, including approximately 300 hotel rooms and 290,000 square feet of casinos, after which it will add a pair of in-house boutique hotels to increase the total number of rooms to 1,892.
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Friday, September 22, 2023

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