Grand Lisboa Palace moves closer to opening
The Macao Government Tourism Office (MGTO) has reported that Grand Lisboa Palace is in the final stages of licensing.
Macau.- Macao Government Tourism Office (MGTO) director Maria Helena de Senna Fernandes has confirmed that SJM Holdings Ltd is close to opening its new venue, Grand Lisboa Palace.
Fernandes said inspections are complete and that although there were things SJM Holdings needed to adapt, she believes most of them have been resolved.
She said there was no exact date for the Grand Lisboa Palace opening because it also depends on the Land, Public Works and Transport Bureau (DSSOPT), which needs to carry out some final work.
According to Macau Business, SJM Holdings wants to open Grand Lisboa Palace before the end of June.
Grand Lisboa Palace is expected to open just one of its three hotels initially, with limited retail options. It will also open only 304 gaming tables and 1,034 slot games.
According to Macau’s current rules, casinos are limited to 3 per cent of the compound annual growth in the number of new live gaming tables in the overall market, up to December 2022.
The Grand Lisboa Palace involved an investment of HKD39bn (US$5bn). When complete, it will have around 2,000 hotel rooms split between three venues: The Lisboa Palace Hotel, Palazzo Versace Macau, and Karl Lagerfeld Hotel luxury boutique hotel.
The venue includes 27,000 square metres of gaming floor space (290,000 sq ft) for up to 700 gaming tables and 1,200 electronic gaming machines.
