Search Results:

The Karl Lagerfeld, a luxury hotel at the Grand Lisboa Palace casino resort, opened on Friday December 3, a launch date previously reported by GGRAsia. The resort’s promoter, SJM Holdings Ltd, had said in earlier commentary that The Karl Lagerfeld would have up to 270 guest rooms and suites in a “20-storey tower”.

The accommodation is described as the first hotel ever designed by the late Mr Lagerfeld, one of the most recognised designers in the world, who had worked as a couturier for fashion brands including Chanel and Fendi. He died in February 2019 in Paris, France.

Source: https://www.ggrasia.com/karl-lagerfeld-hotel-opens-at-grand-lisboa-palace-in-macau/

The last hospitality project by fashion legend Karl Lagerfeld has opened in Macau, boasting one of the region’s largest collections of Portuguese wine.

Best known for his contribution to the fashion industry, Karl Lagerfeld launched a hospitality line in 2016, with some of his most famous interior projects including Hôtel de Crillon in Paris and Sofitel So Singapore. On 30 July 2021, Grand Lisboa Palace Resort Macau, the style icon’s last collaborative partner before his death in 2019, unveiled The Karl Lagerfeld hotel tower. The property aims to provide an “immersive journey into the ethos, vision and distinctive aesthetics” of the fashion genius.

As well as rooms and suites, the late Lagerfeld also designed his own F&B outlets, namely the contemporary Portuguese restaurant Mesa (pictured), and the Statement Bar. The interior features a bold blend of contemporary design and oriental inspiration, fusing the designer’s signature style with elements from the East.

Source: https://www.thedrinksbusiness.com/2021/10/karl-lagerfeld-designed-bar-opens-in-macau/

Daisy Ho Chiu Fung, chairman and an executive director of Macau casino operator SJM Holdings Ltd, has spent an aggregate of nearly HKD26.9 million (US$3.45 million) in five recent purchases of company stock, raising her long position in the firm to 0.13 percent from 0.05 percent prior to the acquisitions, according to transaction records filed to the Hong Kong bourse.

On March 23 last year, the stock reached a low of HKD5.900. It coincided with Macau experiencing a drastic decline in arrivals and tourism business, subsequent to a series of travel restrictions imposed respectively by the city’s government and the authorities on the Chinese mainland, amid the global Covid-19 alert.

SJM Holdings’ HKD39-billion Cotai casino resort venture, Grand Lisboa Palace, had a first-phase opening on July 30 this year, but only days later, Macau entered a pandemic prevention alert due to four local people getting infected with the Delta variant of Covid-19. Subsequently visitor numbers to Macau dipped sharply.

Source: https://www.ggrasia.com/daisy-ho-buys-stakes-in-sjm-pays-total-of-us3-45mln/

SJM Holdings will file a request with Macau’s Gaming Inspection and Coordination Bureau to transfer 118 gaming tables from its existing properties to Grand Lisboa Palace (GLP), the HK$39 billion Cotai integrated resort that opened on Friday.

Details of the company’s table games expansion plan were outlined by Chairman Daisy Ho during Friday’s opening after SJM confirmed the previous day that it would open with 150 new-to-market tables – all of them on the mass gaming floor.

GLP’s phase 1 opening on Friday saw only a handful of attractions ready to accept guests, including around 300 hotel rooms of the 1,350-room Grand Lisboa Palace Macau hotel, a wellness center with a 25-meter indoor pool, an indoor and outdoor event space covering 3,800 square meters, and a handful of F&B outlets.

Ho said she expects the remaining amenities to be open before the end of 2021.

Source: https://www.asgam.com/index.php/2021/08/01/sjm-holdings-to-request-additional-118-tables-for-grand-lisboa-palace/

After several delays, SJM’s first integrated resort in Cotai, the Grand Lisboa Palace, will hold a partial opening on July 30, chairman and executive director Daisy Ho Chiu Fung revealed today.

The group will carry out a phased opening of the HK$39 billion (US$5 billion) development, with one tower of the Grand Lisboa Palace hotel offering 300 rooms – about half of the hotel tower’s full 650 room capacity – to open on Friday and with the remaining rooms and amenities to gradually open by the end of the year if conditions permit.

When inquired if the gaming operator was looking to manage a casino at the nearby Lisboeta property as previously hinted by executive director, Ambrose So, Ho expressed that “nothing is impossible”.

Source: https://www.macaubusiness.com/grand-lisboa-palace-to-hold-partial-opening-on-july-30

The accommodation licence for the self-branded Grand Lisboa Palace hotel, at the yet-to-be launched Cotai casino resort of the same name, had “not been issued” as of Friday, said the Macao Government Tourism Office (MGTO) in an emailed reply to GGRAsia that day.

The tourism bureau added: “Furthermore, the licensing process is still under way for all non-gaming amenities at Grand Lisboa Palace.” According to the first-quarter highlights of Grand Lisboa Palace’s Hong Kong-listed promoter SJM Holdings Ltd, published in May, the HKD39-billion (US$5-billion) property was due to open in the first half this year.

In a July 15 release about some of the non-gaming attractions at the property, the company stated only that the Cotai property would be launched “soon”.

In comments published by the Hong Kong Economic Journal on July 19, Ambrose So Shu Fai, vice-chairman and chief executive of SJM Holdings, said the group would not wait for the resumption of normal travel links between Macau, Hong Kong and mainland China in order to open the Grand Lisboa Palace complex.

He added that the property would open in phases. Mr So did not say when the first phase of the resort would be launched.

Source: https://www.ggrasia.com/grand-lisboa-palace-hotel-licence-pending-mgto/

The Grand Lisboa Palace has passed several of the final government inspections, and is expected to receive an operating permit “soon”, the CEO of SJM Holdings, Ambrose So, stated in the gaming operator’s 2020 annual report.

‘The subsequent opening of the Grand Lisboa Palace will relieve some of the cost pressures on our existing operation, as we will be able to transfer a large number of current employees to the new property,’ So added. SJM Holdings posted a net loss of HK$409 million in the first quarter this year, with the project’s expenses having dragged the group’s pandemic recovery.

Source: https://www.macaubusiness.com/grand-lisboa-palace-passed-govt-final-inspections-opening-soon-sjm-ceo/

Grand Lisboa Palace Hotel will have a Portuguese restaurant with a Michelin gastronomy guide confirmed Angela Leong, co-chair of SJM's parent company. She also informed that the new hotel is expected to open in the first half of 2021.

The identity of the chef remained secret but she pointed out that the chef was distinguished by the Michelin brand guide and that his name is well known in Portugal. However, the co-chairman of SJM's parent company acknowledged that the outbreak could cause the opening of the restaurant to be postponed. Due to the outbreak of the disease, the chef has yet to arrive in Macao. He is currently in Portugal but she made it clear that after the outbreak, he will return to Macao to run the restaurant.

Source: http://www.fnbnews.com/Top-News/grand-lisboa-palace-to-have-michelin-star-chef-at-the-portugueserestaurant-62543

Opening has been pushed back into "first half" of 2021

Macau casino operator SJM Holdings Ltd has reported a net loss of nearly HKD3.03 billion (US$390.2 million) for full-year 2020, on revenue that fell by 77.8 percent in year-on-year terms. That compares with a profit of approximately HKD3.21 billion in the previous year, according to a filing on Tuesday to the Hong Kong Stock Exchange.

Such revenue for the 12 months to December 31 was just below HKD7.51 billion, compared with HKD33.88 billion in 2019. Gaming revenue for 2020 was nearly HKD7.30 billion, down 78.0 percent from the previous year, the group said in its latest filing.

In Tuesday’s filing, the firm said it now “anticipates” opening its resort scheme on Cotai “during the first half of 2021”. In October, the firm had mentioned it opening by the “first quarter of 2021”.

“Construction work on the Grand Lisboa Palace … has been completed and application has been made for the relevant licences [in order] to begin operation in the first half of 2021,” added the casino firm.

Source: https://www.ggrasia.com/sjm-posts-us390mln-2020-loss-cotai-scheme-in-1h/

SJM are giving their teams bonuses to thank them for their hard work during the pandemic.

Eligible employees who would receive the bonus are in two categories depending on their income. Employees in the first category, earning monthly salaries under MOP$20,000, would receive two extra months’ salary. On the other hand, employees who receive more than MOP$20,000 would be receiving either a cash bonus of MOP$40,000 or one-and-a-half month’s salary as a part of the living subsidy bonus.

In a statement, Daisy Ho, SJM Chairman, thanked the company’s employees for their hard work and support during the unprecedented challenges brought by the COVID-19 pandemic. Furthermore, she revealed that SJM fully supports the measures taken by the Macau SAR Government to reduce the spread of COVID-19. In conclusion, Mrs. Ho said that the company stands in solidarity with the Macau people in safeguarding the health and safety of the community.

Source: https://www.gamblingnews.com/news/sjm-employees-to-receive-living-subsidy-payment-on-january-6/

Macau casino operator SJM Holdings has announced Mr Toh Hup Hock as its new Chief Financial Officer following the retirement of Robert Earle McBain. Toh, 55, assumes the role as of 1 January 2021, having spent the past three months serving as Chief Operating Officer (Finance & Development) of Sociedade de Jogos de Macau, S.A. – the SJM subsidiary that holds its Macau gaming concession.

Source: https://www.asgam.com/index.php/2021/01/01/macaus-sjm-holdings-appoints-former-sands-china-exec-as-new-cfo/

SJM Deputy Chairman and Chief Executive Su Shuhui said that the group’s performance in the last quarter continued to be affected by the severe contraction of the tourism industry under the epidemic however there are signs of picking up in the amount spent by tourists.

SJM announced that the adjusted EBITDA for the third quarter was negative HK$782 million, a slight improvement from the second quarter. During the period, the group continued to make a loss, with a loss of 1.031 billion yuan. In the first nine months of this year, SJM's adjusted EBITDA was negative 1.766 billion yuan and a net loss of 2.444 billion yuan.

Su Shuhui mentioned that the construction of Grand Lisboa Palace has been completed and the group is waiting for the local government agency to notify the final acceptance date of the project in November 2020. The project is expected to open in the first quarter of 2021.

Source: http://www.takungpao.com/finance/236133/2020/1030/514397.html