{"id":18657,"date":"2021-06-04T13:52:01","date_gmt":"2021-06-04T13:52:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18657"},"modified":"2026-04-23T18:53:33","modified_gmt":"2026-04-23T21:53:33","slug":"grand-lisboa-palace-opening-pushed-back-to-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/grand-lisboa-palace-opening-pushed-back-to-q3","title":{"rendered":"Grand Lisboa Palace opening pushed back to Q3"},"content":{"rendered":"\n

SJM Holdings had hoped to open Grand Lisboa Palace in May or June, but the opening looks likely to be delayed to the third quarter of this year.<\/p>\n\n\n\n\n\n\n\n

Macau.- It seems the opening date for Grand Lisboa Palace will be delayed again. Morgan Stanley<\/strong> has\u00a0reported that approval of the Macao Government Tourism Office (MGTO) and Gaming Inspection and Coordination Bureau (DICJ) Occupancy Permit (OP) could take between four and eight weeks.<\/strong><\/p>\n\n\n\n

Last week\u00a0MGTO<\/strong> director Maria Helena de Senna Fernandes said\u00a0SJM Holdings Ltd<\/strong>\u00a0was close to opening\u00a0Grand Lisboa Palace<\/a>.<\/p>\n\n\n\n

The company plans to\u00a0open just one of its three hotels initially<\/strong>, with limited retail options. It will also\u00a0open with 260 mass tables\u00a0<\/strong>while the remaining\u00a044 VIP tables will be launched in 2022<\/strong>, after the opening of the Versace-branded hotel.\u00a0<\/p>\n\n\n\n

Grand Lisboa Palace\u00a0<\/strong>involved an investment of HKD39bn (US$5bn). When complete,\u00a0it will have around 2,000 hotel rooms<\/strong>\u00a0split between three venues: The Lisboa Palace Hotel, Palazzo Versace Macau, and Karl Lagerfeld Hotel luxury boutique hotel.<\/p>\n\n\n\n

It includes\u00a027,000 square metres of gaming floor space\u00a0<\/strong>(290,000 sq ft) for up to\u00a0700 gaming tables and 1,200 electronic gaming machines<\/strong>.<\/p>\n\n\n\n

The Cotai integrated resort<\/a> was originally due to open in 2017<\/strong> but has faced multiple delays over the years.<\/p>\n\n\n\n

In May,\u00a0SJM Holdings Ltd<\/a>\u00a0announced it had raised nearly HK$1.24bn (US$160m) and MOP298m (US$12.3m) after the issuance of senior notes due 2026. It said net proceeds from the offering of the senior notes<\/strong>\u00a0reach nearly HK$1.24bn (US$160m) and MOP298m (US$12.3m).\u00a0<\/p>\n\n\n\n

The company announced it would use approximately 90 per cent of the net proceeds from the proposed offering for\u00a0refinancing syndicated credit facilities<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SJM Holdings had hoped to open Grand Lisboa Palace in May or June, but the opening looks likely to be delayed to the third quarter of this year.<\/p>\n","protected":false},"author":176,"featured_media":18660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM Holdings' Grand Lisboa Palace integrated resort in Macau faces further delays, with its opening now anticipated in Q3 due to pending Occupancy Permit approvals from the MGTO and DICJ. The HKD39bn project will initially launch with limited facilities, including 260 mass gaming tables, while the company recently secured HK$1.24bn via senior notes for refinancing existing credit facilities.","focusai_entities":"SJM Holdings, Morgan Stanley, Macao Government Tourism Office, Gaming Inspection and Coordination Bureau, Maria Helena de Senna Fernandes, The Lisboa Palace Hotel, Palazzo Versace Macau, Karl Lagerfeld Hotel","focusai_location":"Macau, Cotai","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.85), operator_casino (0.9), marketing_crm (0.75), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact","query":"What specific regulatory or technical compliance hurdles are contributing to the prolonged Occupancy Permit approval process for Grand Lisboa Palace, and what precedent does this set for future integrated resort developments in Macau?"},{"label":"Financial Implications","query":"How will the Q3 opening delay and the phased launch of gaming tables impact SJM Holdings' projected Q3 and Q4 GGR and NGR, and what are the implications for its debt servicing capacity following the recent senior notes issuance?"}],"footnotes":""},"categories":[28,16338],"tags":[23808,23906,23108],"class_list":["post-18657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-grand-lisboa-palace","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18657","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18657"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18657\/revisions"}],"predecessor-version":[{"id":18679,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18657\/revisions\/18679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}