<div id="readability-page-1"><div>** Shares of Macau gaming and resort operator SJM Holdings fall 3% to HK$2.63, their lowest level since July 7** SJM plans to buy Hotel L'Arc, on which Casino L'Arc Macau is located, for HK$1.75 billion ($224.8 million), while it drops plans to buy the property where Casino Ponte 16 is located in Macau ** Casino Ponte 16 will cease operations on November 28 - co** UBS, with &#34;sell&#34; rating, says L'Arc valuation appears reasonable and the acquisition is viewed as a &#34;net positive&#34; as the deal will be funded by undrawn credit facilities with leverage impact to be largely offset by incremental EBITDA from market share gains at L'Arc ** YTD, stock down 1.9%, while the benchmark Hang Seng Index up 25.7% ($1 = 7.7840 Hong Kong dollars)</div></div>

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SJM Holdings' shares fell 3% to HK$2.63, a 4.5-month low, after announcing plans to buy Hotel L'Arc for HK$1.75 billion while scrapping plans to buy the property where Casino Ponte 16 is located. Casino Ponte 16 will cease operations on November 28. UBS views the L'Arc acquisition positively. Year-to-date, SJM's stock is down 1.9%, while the Hang Seng Index is up 25.7%.

SJM slips to 4-1/2-month low amid Hotel L'Arc acquisition, Casino Ponte 16 plans scrapped