Posted: July 28, 2021, 9:55 a.m.
Last update on: July 28, 2021, 02:13 p.m.
The Grand Lisboa Palace on Macau’s Cotai Strip will welcome its first casino players on Friday, July 30. Daisy Ho, President of SJM Holdings, recently announced the planned opening of GGRAsia.
Daisy Ho revealed that the integrated complex has been awarded 150 table games by the Macau Games Inspection and Coordination Office. She is one of 17 children of the late Stanley Ho, aka the “King of Gambling”. Stanley Ho controlled a monopoly on casinos in Macau for decades until 1999.
Next Friday, Ho says that around 300 hotel rooms at the Grand Lisboa Palace will be available. The complex’s three hotel towers – Grand Lisboa Palace Hotel, Karl Lagerfeld and Palazzo Versace – collectively have 1,892 rooms and suites.
Built at a cost of HKD 39 billion (US $ 5 billion), the colossal destination for games, entertainment, meetings, shopping and events has been over many months. But SJM has blocked its opening due to COVID-19.
Key Cotai Strip Property
The Grand Lisboa Palace is SJM’s first casino on the Cotai Strip, which is today the place where VIPs and big players in the area stay and play.
SJM Holdings, which recently renamed its casino subsidiary from Sociedad de Jogos de Macau to SJM Resorts, has seen its VIP market share decline over the past two decades. Before the pandemic, SJM Resorts controlled just 15% of Macau’s gaming industry. In 2009, SJM controlled a share of almost 43 percent.
While SJM is still doing well in terms of mainstream gaming, the casino operator having a strong presence in downtown Macau with its Casino Grand Lisboa and operating 17 hotel-casinos for third parties, its commitment of 5 billion of dollars in Macau is the company’s effort to regain VIP business.
Ho says she hopes strong demand will justify opening the Grand Lisboa Palace to its full offer of hotel rooms in the near future.
We hope that by the end of the year we will be able to open the entire property ”, Ho said. “There will be a grand opening ceremony, but that will depend on existing travel restrictions. “
Macau remains closed to entry to all foreigners except those from mainland China, Hong Kong and Taiwan.
Move mass to side
SJM Resorts has two properties on the Cotai Strip. Along with the Grand Lisboa Palace, the casino operator owns the adjacent Lisboeta Macau.
The game-free hotel caters to the general public, not the rich mainlanders. The 574-room hotel opened earlier this year and was used by the Macau government as a quarantine observation center for inbound travelers.
“Once we have opened the Grand Lisboa Palace, we will start to examine this possibility,” Ho said regarding the possibility of setting up a casino in Lisboeta.