The president of Macau and local casino operator SJM Holdings Limited reportedly expects Grand Lisboa Palace under construction to begin welcoming players and guests by "the second half."
A declaration by Ambrose Soshoffai, the chief executive of the Hong Kong-listed giant, said it did not expect all retail space at the $5 billion venue to be rented at the time of opening.
SJM Holdings Limited is responsible for about 20 casinos spread across Macau, including the iconic casino Grand Lisboa, along with the new Emperor's Palace Casino. Work on the 2,000-room Grand Lisboa Palace began in February 2014, explaining that the previously completed cotay strip building included three five star hotels branded under the Grand Lisboa Palace, palacho Versace and Karl Lagerfeld Moniker, along with conference facilities and various shops and restaurants.
"It could be partially released by the second half of 2020. Not all stores will be rented on time by then, but hotel rooms should be rolled out along with casinos and some stores."
SJM reportedly hopes the completed Grand Lisboa Palace will be able to compete with nearby rival integrated casino resorts, such as Sands China Limited's $2.4 billion Venetian Macao as well as Melco Resorts and Entertainment Limited's $3.2 billion Studio City Macao, and help the operator boost its gaming business. For the year so far, So declared that his company is facing several economic headwinds caused by ongoing political protests in Hong Kong and the ongoing trade war between China and the United States. 슬롯
"I hope this can be the same level as last year. We hope that our local gaming revenue at SJM [Holdings Limited] will not be lower than before."
The company's game sales during the week-long Golden Week holiday were "slightly worse than expected," despite raising hotel room share well above 90 percent before mentioning that the VIP business was "not doing well."
"We thought more traffic would make our income better, but it wasn't. We've seen good foot traffic in our properties, but business in casinos is."
