The boss for Macau’s local casino operator SJM Holdings Limited has revealed that the company behind one of the latest projects in this area Grand Lisboa Palace expects to open the venue’s doors to the public in several months from now or by the second half of the next year. As revealed by one GGRAsia report, this declaration from the behemoth listed on the Hong Kong stock market CEO was also accompanied by another detail.
As shared by Ambrose So Shu Fai who is the SJM Holdings Limited’s CEO, he does not anticipate that all of the luxurious, $5 billion-worth facility’s retail space to have been fully leased at the time of its expected opening date. When it comes to the company which is behind this massive project, SJM Holdings Limited is one of the six firms which are fully authorized to operate games of chance in land-based casinos.
This company of Sociedade de Jogos de Macau alongside five other firms has such authorities as managed under the terms of concessions which were granted by the Macau Special Administrative Region’s government in March of 2002. While five more companies have such authorities to operate land-based casino games, only SJM Holdings Limited concessionaire originates from Macau.
Responsible for Twenty Casinos Across Macau
The company-managed casinos are located on the Macau Peninsula as well as Tapia which are prime locations for such venues. As mentioned in the previous section, SJM Holdings Limited is an investment holding company based in Hong Kong which is mainly engaged in all sorts of gaming operations. The firm operates with two different segments including is gaming operations division. As suggested by its name, this sector is responsible for operating casinos and other related facilities.
Besides casino operations, this gaming sector is also responsible for VIP businesses, slot machines, and mass-market businesses. Speaking of land-based casinos, SJM Holding Limited is responsible for 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, and several other venues.
As expected, the company also operates several hotel and casino facilities including its Jai Alai Hotel with one hundred and thirty-two rooms and its Sofitel Macau at Ponte 16 with nineteen VIP hotel suites and more than three hundred and eighty rooms. Its latest project of this kind includes its Grand Lisboa Hotel which is fully owned and operates by SJM Holdings Limited packed with two thousand rooms including luxurious hotel suites.
Featuring Trio of Hotels
The company started working on this property back in February of 2014. In one of its official press releases, the company’s officials revealed that the finished 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 company’s officials have fairly optimistic expectations as they hope to open the facility’s doors partially by the second half of the next year. By this time, not all of the restaurants and shops included in the property would be leased, but the hotel suites and rooms will probably be launched alongside the venue’s casino floor.