rand Lisboa Palace Resort Macau officially opened its doors to the public on Friday, 30 July. Developed by SJM Resorts, it represented an investment of approximately HKD 39 billion (US$5 billion) and features three hotel towers –Grand Lisboa Palace Hotel, Karl Lagerfeld, and Palazzo Versace– and casino gaming.
On how will its gaming facilities work, Ms. Daisy Ho, Chairwoman of the Board of Directors of SJM, revealed that the resort has been granted approval for 150 table games by the Macau Gaming Inspection and Coordination Bureau.
SJM Resorts intends to relocate 118 table games, including VIP baccarat, to the property. This decision has already been approved by SJM Holdings, the parent organization to SJM Resorts, and is expected to help regain the VIP demographic.
The project marks a Cotai debut for SJM Resorts. “The phased launch of Grand Lisboa Palace Resort Macau marks the beginning of a new chapter for SJM, as we extend the SJM legacy to Cotai and go ‘beyong legendary’ together with Macau,” said Ho.
The destination features 1,892 guestrooms and suites and has been finished for months, but SJM decided to delay its opening due to COVID-19.
The initial-phase launch includes the casino space, 300 guest rooms, restaurants and space for events. A robust demand that will warrant the opening of Grand Lisboa Palace’s complement of hotel rooms in the near future is expected.
"We are hoping that within this year, by the end of the year, we will be able to open up the entire property,” Ho said. Macau currently remains closed for entry to all foreigners except those coming from mainland China, Hong Kong, and Taiwan.
Despite the complex business environment due to COVID-19, it is expected that the new casino resort will break-even in a year or less, remarked Ho.
“This project is a testament to SJM’s strong confidence in Macau’s diversified development and success, and demonstrates our long-term vision in the sustainable development of our brand”, said the Chairwoman of the Board of Directors.