Grand Lisboa Palace is SJM's HKD 39 billion new gaming property on Cotai
The casino group says the decision of that is for better reflect the group’s “prominent position in the tourism and leisure business and its dedication to the development and operation of integrated resorts in Macau,” the parent said in a Wednesday filing in Hong Kong Stock Exchange.
The casino permit-holding entity, Sociedade de Jogos de Macau SA, is now to be known as “SJM Resorts Ltd”.
● Consumer penetration keeps rising, North American iGaming, sports betting market could reach $42B
● Lisboeta Macau will open some attractions on July 17, including the first indoor skydiving experience in the city
● Strict HK-Macau travel bubble push JP Morgan to lower gaming GGR forecast
Wednesday’s filing said SJM Holdings would “soon open” its newest flagship property, the HKD 39 billion Grand Lisboa Palace, a gaming resort in Cotai, “extending the traditions of its forerunners Hotel Lisboa and Grand Lisboa,” its main properties on Macau peninsula.
Grand Lisboa Palace would be “setting a new milestone in Macau’s development,” added the document.
According to SJM Holdings’ first-quarter highlights filed with the Hong Kong Stock Exchange on May 4, Grand Lisboa Palace is due to launch in the first half this year.
A recent memo from banking group Morgan Stanley suggested the latter’s launch could be put back to the third quarter.
Editing by Rachel Hu
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