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Local Name:
上葡京
Budget:
4.6B
Announced:
2013
Construction Start:
13 Feb 2014
Opening:
2021
Location:
Area:
6 ha
Consultants:
Designers:
Contractors:
Ride Suppliers:
Other Suppliers:
  1. Grand Lisboa Palace could be delayed until the 3rd Quarter of this year.

    SJM's Grand Lisboa Palace Opening May Be Delayed to 3Q21; Sees Better Sector Mood
    Source: http://www.aastocks.com/en/stocks/news/aafn-con/now.1101809/latest-news

  2. Good news for Macau's recovery and future development. Possibly June opening for Grand Lisboa Palace too.

    The recovery process continues in Macau as gaming operators have recorded their best week since the early days in 2020 during Golden Week this month. Gross gaming revenues came in at around 50% of the levels the region saw before the COVID-19 pandemic. JP Morgan analysts provided insight into the recovery, noting that the figures are ‘broadly satisfactory.”
    On top of an increase in revenue totals, Macau will soon see the Grand Lisboa Palace property open for business. The company announced a few days ago that the property will be open before June comes to an end.

    The casino project first started in February 2014, so the opening of the venue is long-awaited. The property will be home to a 300 room hotel along with boutique hotels to come. The casino is 290,000 square feet in size, which is quite large for a gambling facility. It will be home to just over 1,000 slot games and more than 300 table games. The number of table games will increase later by as many as 200 to cater to the mass and VIP markets.
    Source: https://news.worldcasinodirectory.com/golden-weeks-pushes-macau-back-to-within-50-of-pre-covid-19-revenue-levels-94084

  3. MarkEm is offline resortX Top Investigator
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    A soft opening with premium offerings for this quarter looks likely!



    SJM Holdings’ long-awaited Cotai integrated resort, Grand Lisboa Palace, will open with around 300 gaming tables and 300 hotel rooms, plus a handful of F&B and retail outlets, before the end of the quarter.

    The company provided details on its launch plans during its 1Q21 earnings call with analysts on Tuesday, including a detailed focus on how its gaming areas will look once operations finally get underway at the HK$39 billion (US$5 billion) IR.
    According to analysts, SJM management confirmed that Grand Lisboa Palace will hold a partial opening before the end of Q2 with 304 gaming tables and 1,034 slot machines during the initial stages plus around 300 hotel rooms – rising later to 1,892 rooms once its two boutique hotels – Palazzo Versace Macau and Karl Lagerfeld Hotel – open in the coming months.
    Source: https://www.asgam.com/index.php/2021/05/05/grand-lisboa-palace-to-open-with-300-gaming-tables-focus-on-high-end-sjm/

  4. ResortsAhoy is offline resortX Top Investigator
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    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/

  5. mrg
    mrg is offline resortX Top Investigator
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  6. 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

  7. 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/

  8. 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/

  9. 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/

  10. mrg
    mrg is offline 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

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