SJM breaks ground on Cotai Lisboa Palace resort, boosts budget

    Sociedade de Jogos de Macau has begun construction of Lisboa Palace, holding a ground-breaking ceremony at its Cotai project site. Located on 70,468 square metres of land, Lisboa Palace will comprise a full range of non-gaming facilities, including around 2,000 hotel rooms housed in The Lisboa Palace Hotel, the Palazzo Versace Macau and another fashion-branded luxury hotel. Lisboa Palace will provide up to 700 gaming tables and over 1,200 slot machines across a gaming floor area of approximately 27,000 square metres. The total construction cost is approximately HK$30 billion ($3.86 billion). That’s about $5 billion more than originally planned. SJM Chairman Dr. Ambrose So said the  “architectural wonder that will arise on this site over the next three years will become one of the landmarks of Macau.”