CEO of Macau’s local casino operator SJM Holdings Limited revealed that the company’s latest developments at the Grand Lisboa Palace area are expected to open to the public by the second half of next year. SJM Holdings Limited is one of six operators that are fully authorized to manage games of chance in land-based casinos. According to their website, “SJM’s casinos are located in prime locations on the Macau Peninsula and Taipa and convenient to principal entry points. Gaming operations comprise VIP gaming, mass-market table gaming, and slot machines.” The Grand Lisboa Palace, SJM’s integrated resort in Cotai, is currently under construction and will feature 1,900 hotel rooms, executive facilities for meetings and conferences, a shopping area, dining, and entertainment, as well as a top-notch casino. The casino floor is planned to accommodate up to 700 tables and 1,200 slot machines.
SJM Holdings Limited is an investment holding company based out of Hong Kong, with a focus on gaming operations. Besides casino operations, the company is responsible for VIP businesses, slot machines, and mass-market businesses. Casinos managed by SJM include; Casino Casa Real, Casino Babylon, Casino Emperor Palace, Casino Diamond, Casino Fortuna, Casino Eastern, Casino, Ponte 16, Casino Taipa, Casino Golden Dragon, Casino Kam Pek Paradise, Casino Legend Place, as well as several other venues. Over and above, the company is managing several hotels and casino facilities including the 132 rooms Alai Hotel, as well as Sofitel Macau offering 19 VIP hotel suites and more than 280 rooms.
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The company began developments in its latest project, the Grand Lisboa Palace, back in February of 2014. SJM mentions on their website that the property located on the Cotai Strip will feature, “three luxurious, five-star hotel venues which are branded under the Palazzo Versace, Grand Lisboa Place, and Karl Lagerfeld. In addition to the three hotels, the finished property will also include several conference facilities alongside many restaurants and shops.” The venue was scheduled to open in April of 2018 before it was delayed by SJM to a later opening date.
It is notable to highlight that the project faced several delays over the years for various reasons from dealing with natural disasters such as a typhoon or in other cases dealing with a fire at the construction site. Many financial experts are attributing SJM’s continued loss of market share to gains made by competitors who have a strong presence in Cotai. SJM’s CEO mentions that” the ongoing trade war between China and the United States, as well as the social unrest in Hong Kong, has negatively impacted the Macau gaming revenue.” He added, “While the mass market here has recorded year-on-year growth so far this year, the VIP gaming performance has been far from ideal.”
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