Grand Lisboa Palace is the future landmark integrated resort of SJM on Cotai.Located adjacent to the East Asian GamesDome, the resort has a total gross floor area of 521,435 square metresplus 77,158 square metres of parking, with over 90% of the total area comprising a full range of non-gaming facilities. The resort includes the Grand Lisboa Palace hotel, with approximately 1,400 rooms, the Palazzo Versace Macau with approximately 290 rooms, and the Karl Lagerfield Hotel with 290 rooms. The resort also features a wedding pavilion, themed retail mall, restaurants, multi-purpose theatre and a casino.
Morgan Stanley analysts expect a further delay in the opening of the Grand Lisboa Palace, which was previously expected to open in the second half of 2020. The delay in the property’s opening, which is now expected to be January 2021, will also have an effect on mass-market revenue growth over the next year, as […]
SJM Holdings has pushed back the completion date of its Lisboa Palace resort on Cotai again, this time until about March next year, according to media reports.
SJM’s Grand Lisboa Palace will suffer from s slow ramp up, and likely fall behind schedule for its opening, according to Bernstein analysts in a note on Tuesday. While the Cotai property is scheduled to open in late 2019, Bernstein analysts said they have already modeled for the property to open in the first quarter […]
SJM Holdings said Q1 profit rose 16.5 percent over the prior year to HK$850 million ($108.3 million), driven by mass market revenue.
SJM Holdings reported an almost 10 percent increase in net revenue for the first half of this year, though its share of the Macau market slipped in all categories.
Macau Theme Park and Resort Ltd, a company headed by Angela Leong On Kei, has applied to register six new trademarks in Macau, local media reports. The brands being trademarked include Eyecon, ‘Lisboner’, ‘Signature Noodles’, ‘Vintage Desserts’, ‘Macau Desserts’ and ‘Jumbo Palace’ – with more than one trademark filed for each registration. According to a […]
A construction worker at the site of the Grand Lisboa Palace was sent to hospital on Monday for a seriously bleeding wrist, local media reports. The latest incident marks the 5th incident at the site, which has seen two fires and two fatal accidents to date. Executive director Angela Leong On Kei previously said there […]
SJM chief executive Ambrose So Shu Fai said he is encouraged by the number of hotel bookings for Golden Week, expressing his wish that the increased number of visitors will bring in more income. “I can’t forecast [the gaming revenue] but logically this will be good for Macau’s revenue,” said So on Tuesday, quoted by […]
SJM’s Grand Lisboa Palace will have its opening delayed following a fire at the casino’s construction site over the weekend, according to executive director Angela Leong On Kei. The gaming operator was originally planning to open the new property by the second half of 2018. “I believe everything relating to the typhoon or the fire […]
88 workers had to be evacuated from the construction site of the Grand Lisboa Palace, after a fire broke out on the 14th floor of the building on Sunday night, TDM news reports. The incident was the second fire outbreak at the construction site this year, taking firefighters four and half hours to control the […]
Gaming-focused brokerage Bernstein Research has downgraded SJM to underperform (from market-perform), due to an expected delay in its Grand Lisboa Palace and ramp up challenges. “While the stock has rallied 15 percent year-to-date (in line with the Macau group average), in our view this rally is unwarranted. We believe current SJM stock price is overpriced […]
Construction work for the Grand Lisboa Palace resumed on Wednesday, ending a nearly two month suspension at the site, Macau Business reports. Chief executive of SJM Holdings, Ambrose So Shu Fai was speaking to reporters on on the sidelines of the 13th annual SJM Scholarship Awards at Grand Lisboa. “In the meantime, of course, we […]
Macau casino operator SJM Holdings posted profit of HK$955 million for the six months ended June 30, 2017 – falling 12.9 percent compared to the prior-year period. Total group revenue reached HK$20.6 billion, a 1.9 percent decrease year-on-year. Adjusted EBITDA fell 7.7 percent to HK$1.5 billion in the half year. SJM Holdings said mass table […]
Casino operator SJM Holdings is hoping to resume construction of its Grand Lisboa Palace development after complying with the changes required by Macau’s Labor Affairs Services, Macau TDM reports. On Wednesday, SJM executive director Ambrose So said that the company has made all the changes required by DSAL, and is now waiting for the green […]
The government has ordered the suspension of construction work at the Grand Lisboa Palace after a fatal work accident on Sunday, local media reports. Authorities said a worker fell from an 8 meter high platform. He was unconscious on the way to hospital, and was in a coma before being pronounced dead. “The Labour Affairs […]
SJM Holdings has negotiated a HK$25 billion (US$3.2 billion) loan in order to finance the construction of its new Grand Lisboa Palace development. The casino operator on Thursday announced the signing of the syndicated loan facilities agreement, which consists of a HK$15 billion term loan facility with final maturity in 2022, and a HK$10 billion […]
Authorities suspect foul play in a fire that broke out at the construction site of SJM Holding’s new casino on Cotai, the Grand Lisboa Palace, local media reports. The fire broke out on Friday evening at a storage facility for paint and other construction materials and took two hours to bring under control. A total […]
Macau casino operator SJM Holdings Ltd has reported profit of HK$513 million ($66.1 million) for the third quarter of 2016, up 80.2 percent year-on-year. The significant rise was due to one-off items, including an investment impairment loss of HK$250 million in 15Q3. However, when looking at results for the first nine-months of 2016, the operator […]
A group of local construction workers on the Grand Lisboa Palace project have been given their jobs back, local media reports. The workers re-employment comes after the workers went with legislator Ella Lei Cheng I to the Labor Affairs Bureau (DSAL) last week to submit a letter alleging unfair dismissal. According to Lei, a total […]
The Macau government has ordered the temporary suspension of work at the construction site of the Grand Lisboa Palace in Cotai from Friday afternoon due to a fatal accident of a construction worker on site, local media reports. According to the Labor Affairs Bureau (DSAL), one male worker died on site after being hit by […]
Casino operator SJM Holdings Ltd is planning to apply for 400-500 gaming tables for its Grand Lisboa Palace, local media reports. According to Macau Daily Times, the group’s chief executive officer Ambrose So Shu Fai made the comments last Friday on the sidelines of the European Chamber of Commerce gala dinner, adding the operator would […]
SJM Holdings said its 2015 profit plunged 63.4 percent, hurt by the suspension of operations at the Casino Greek Mythology and tumbling gaming revenue. Net profit attributable to owners of company was HK$2.46 billion ($317 million), or 43.5 cents a share. The amount includes an impairment loss on available-for-sale investments in equity securities of HK$250 […]