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Local Name:
上葡京
Budget:
$4.6B
Announced:
2013
Construction Start:
13 Feb 2014
Opening:
30 Jul 2021
Location:
Area:
6 ha
Developer:
Operator:
Consultants:
Designers:
Contractors:
Ride Suppliers:
Other Suppliers:
  1. ResortsAhoy is offline resortX Top Investigator
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    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

  2. ResortsAhoy is offline resortX Top Investigator
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    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/

  3. ResortsAhoy is offline resortX Top Investigator
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    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/

  4. ResortsAhoy is offline resortX Top Investigator
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    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/

  5. mrg
    mrg is online now resortX Top Investigator
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    Ongoing travel restrictions due to the pandemic have also raised questions about the full opening of the hotel Grand Lisboa Palace, scheduled for the first quarter of 2021.

    Union workers have said construction is complete and the necessary permits were on their way, but the opening could be delayed due to the lack of visitors in Macau.
    https://focusgn.com/asia-pacific/sjm-cancels-new-year-countdown-show

  6. ResortsAhoy is offline resortX Top Investigator
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    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

  7. mrg
    mrg is online now resortX Top Investigator
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  8. Researcher is offline Curious Chap
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    Completed, but on hold.

    Grand Lisboa Palace has finished construction, but the $5 billion integrated resort still hasn’t welcomed its first guest. The Palace is SJM Holdings’ first investment on Macau’s Cotai Strip.
    SJM Holdings said the integrated resort casino would open by the end of 2020, according to security filings made in July with the Hong Kong Stock Exchange. But this week, billionaire Angela Leong, Ho’s fourth wife, stated there’s no concrete opening date for Grand Lisboa Palace.

    We’ll adapt to suit client needs, and we will see how Macau’s market conditions evolve,” Leong stated.

    There is no online presence for Grand Lisboa Palace where future guests can book their stays.
    Source:
    https://www.casino.org/news/grand-lisboa-palace-finished-but-macau-casino-no-opening-date/

  9. mrg
    mrg is online now resortX Top Investigator
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  10. mrg
    mrg is online now resortX Top Investigator
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