{"id":11494,"date":"2020-11-04T10:05:43","date_gmt":"2020-11-04T10:05:43","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=11494"},"modified":"2026-04-24T00:24:12","modified_gmt":"2026-04-24T03:24:12","slug":"full-glp-opening-should-depend-on-demand-analyst-says","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/full-glp-opening-should-depend-on-demand-analyst-says","title":{"rendered":"Full GLP opening should depend on demand, analyst says"},"content":{"rendered":"\n

According to Union Gaming, the opening of the hospitality area in the resort will depend on a rise in the number of visitors to Macau.<\/p>\n\n\n\n\n\n\n\n

Macau.- The full opening of the hotel Grand Lisboa Palace scheduled for the first quarter of 2021 could be delayed due to the lack of visitors in Macau.<\/p>\n\n\n\n

Analysts at the brokerage Union Gaming believe the hotel should not open until significant demand returns to the SAR.<\/p>\n\n\n\n

Considering the plunge in visitation, analysts consider it would be better to begin with a partial opening of the resort until tourism recovers.<\/p>\n\n\n\n

The brokerage said: “All construction is completed and the final inspection and approval processes are underway. The property already has in-house casino staff and much of the staffing for the casino is done. Management will look to staff the hospitality segments closer to their opening.<\/p>\n\n\n\n

“Given the current environment, we are expecting a slower ramp throughout 2021 and looking forward to 2022 as the first full year of operations.”<\/p>\n\n\n\n

As for the financial position of SJM Holdings<\/a><\/em><\/strong>, which operates the Grand Lisboa Palace, Union Gaming predicts a modest recovery throughout the fourth quarter. However, it noted that it would be difficult without automated visa issuance and improved liquidity and capital outflow from China.<\/p>\n\n\n\n

The analysts said: “As it relates to capital controls, SJM hasn\u2019t seen any impact on the mass market yet but said it was hard to assess given the sharp pick up in business after complete closures. <\/p>\n\n\n\n

“However, the company did suggest it would be willing to provide credit for premium mass and direct VIP when Grand Lisboa Palace opens”.<\/p>\n\n\n\n

Union Gaming forecast that by 2022 Grand Lisboa Palace could be reporting up to HK$1.86bn in EBITDA.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to Union Gaming, the opening of the hospitality area in the resort will depend on a rise in the number of visitors to Macau.<\/p>\n","protected":false},"author":2,"featured_media":11498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The full opening of SJM Holdings' Grand Lisboa Palace in Macau, initially slated for Q1 2021, faces potential delays due to a significant decline in visitor numbers. Union Gaming analysts suggest a partial opening until tourism recovers, forecasting a slower ramp-up through 2021 with 2022 as the first full operational year, and projecting HK$1.86bn in EBITDA by 2022, contingent on improved visa issuance and capital outflow from China.","focusai_entities":"Union Gaming, SJM Holdings","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Visa Policy","query":"What specific policy changes or diplomatic efforts are required to facilitate automated visa issuance and improve capital outflow from China, and what is the projected timeline for these changes?"},{"label":"SJM's Credit Strategy","query":"How will SJM Holdings' proposed credit provision for premium mass and direct VIP segments be structured to mitigate financial risk and ensure regulatory compliance, particularly concerning AML frameworks?"}],"footnotes":""},"categories":[160,28,16338],"tags":[23808,257],"class_list":["post-11494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","tag-grand-lisboa-palace","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11494"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11494\/revisions"}],"predecessor-version":[{"id":11503,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11494\/revisions\/11503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11498"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}