´Grand Lisboa Palace to be completed in September, maybe open in H2 2020,´ said Ambrose So
Friday 30 de August 2019 / 04:10
⏱ 1 min read
(Macau).- The construction of Grand Lisboa Palace, the first flagship project for gaming operator SJM Holdings Ltd in Cotai, will be completed early next month by the latest, with the possible opening date scheduled for the second half of next year, the CEO of SJM Holdings, Ambrose So Shu Fai, said according to a Macao Daily News report.
The gaming operator would apply for all the necessary operation permits for Grand Lisboa Palace from the government, after the completion of the works by this month or early next month, he told reporters yesterday in an SJM event.
Though the casino in the new Cotai project could accommodate 300 gaming tables, Mr. So said based on past experiences from other new projects in Cotai, the government would only approve about 150 tables for each.
“If it is needed, we could move the existing tables from other projects to [Grand Lisboa Palace],” the local media quoted Mr. So as saying.
The SJM project has met several delays over the years for various reasons from typhoon to fire at the construction site, with the original opening date scheduled in 2017.-
Brokerage Sanford C. Bernstein Ltd said in research note last month that SJM continues to lose the market share in Macau against other competitors given its lack of presence in Cotai.
The SJM CEO also said yesterday the on-going trade war between China and the United States, as well as the social unrest in Hong Kong, has negatively impacted the Macau gaming revenue.
While the mass market here has recorded year-on-year growth so far this year, the VIP gaming performance has been far from ideal, he added.
Gross gaming revenue accumulated to MOP173.96 billion in the first seven months of this year, down by 0.9 percent from a year earlier, the government data show.
Categoría:Casino
Tags: Sin tags
País: Macao
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