As reported several days ago, one of the local Macau-based casino operators the SJM Holdings Limited company has announced that it is moving around one thousand employees from its flagship venue Casino Grand Lisboa so that they work on the company’s another iconic property Grand Lisboa Palace which will open its doors soon.
According to one report released by Inside Asian Gaming, this company which was founded by Stanley Ho fifty-eight years go made the revelation about moving some of its workforces from Casino Grand Lisboa as part of its official filling. This filling also concerned the company’s financial results for the previous four months of 2020 alongside details about the company’s coming venue which is almost completed. As revealed, the Grand Lisboa Palace venue will start welcoming its very first guests in the second half of 2020.
Details About SJM Holdings Limited
As mentioned at the beginning, SJM Holdings Limited Company was founded back in 1962. Since its inception, the company was involved in the casino and gambling industry. Historically, SJM Holdings Limited has also held a monopoly on the gambling industry in Macau as the sole licensee for gambling-friendly venues in the former Portuguese enclave. Back in 2020, the government of this Chinese area started issuing more casino licenses and the company’s monopoly over the industry was broken.
However, of the forty-three operating casinos in the former Portuguese enclave, SJM Holdings Limited operates and owns twenty-two of them. These venues operated and owned by the company are spread across the region while its latest luxurious venue packed with some two thousand rooms will open its doors soon after six years of construction and other work.
The company’s most iconic venue is surely its Grand Lisboa facility that opened back in February of 2007. The venue’s casino floor is packed with around one thousand slot machines and around eight hundred gaming tables. The hotel area is packed with four hundred and thirty suites and rooms. It is worth mentioning that the venue’s casino floor was the very first in the area to offer Texas Hold’em poker games as well as the very first to offer Craps.
Grand Lisboa Palace to Opening Its Doors Soon
When it comes to the company’s latest project which started in February of 2014, the Grand Lisboa Palace venue will compete with several luxurious properties located nearby including the Studio City Macau venue worth $3.2 billion which is owned and operated by the Melco Resorts and Entertainment Limited company.
The company responsible for Grand Lisboa Palace explained that its $5 billion-worth property will feature an exclusive trio of hotels that are branded under the Palazzo Versace, Grand Lisboa Palace, and Karl Lagerfeld names. The venue will also feature several conference facilities as well as a massive 290,000 square feet casino floor alongside a number of restaurants and shops.
Reported by Inside Asian Gaming, the SJM Holdings Limited company used one of its latest financial updates to share more details about relocating some of its workers to work on its Grand Lisboa Palace venue. In this particular updated report, the company’s official explained that this move will reduce the company’s costs at the thirteen-year-old Grand Lisboa venue. The same report also explains that the company has already invested around $4.2 on its new Cotai Strip developmental project while the remained will be spent once the venue opens its doors officially.