The Palazzo Versace luxury hotel is located on the Cotai Strip in Macau.<\/p>\n\n\n\n\n\n\n\n
Macau.- SJM Resorts<\/strong>‘ chairman, Daisy Ho<\/strong>, announced on Wednesday (March 15) that the company plans to hold a soft launch of its Palazzo Versace luxury hotel on the Cotai Strip in Macau this April. Representatives from Versace will attend a grand opening at a later date.<\/p>\n\n\n\n SJM requires more time than its competitors to ramp up non-gaming events, Ho said. The company has been gradually opening rooms at the Grand Lisboa Palace, with only around 30 per cent currently available.<\/p>\n\n\n\n SJM has recently reported gaming revenue was HK$6.1bn (US$780m) in 2022, down by 36 per cent compared to a year earlier<\/a>. The company confirmed a loss attributable to its owners<\/a> of HK$7.80bn, up 88.2 per cent from 2021. It reported it had a 15.8 per cent share of Macau\u2019s gaming revenue, including 19.8 per cent of mass-market table gross gaming revenue and 4.9 per cent of VIP gross gaming revenue.<\/p>\n\n\n\n Grand Lisboa Palace generated gross revenue of HK$687m in 2022, with gross gaming revenue of HK$346m compared to HK$200m in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":" The Palazzo Versace luxury hotel is located on the Cotai Strip in Macau.<\/p>\n","protected":false},"author":176,"featured_media":20947,"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 Resorts is set to soft launch its Palazzo Versace luxury hotel on Macau's Cotai Strip in April, with a grand opening featuring Versace representatives planned for a later date. This launch comes as SJM reported a significant 36% decline in 2022 gaming revenue to HK$6.1bn and an 88.2% increase in net loss, indicating a slower post-pandemic recovery and operational ramp-up compared to competitors.","focusai_entities":"SJM Resorts, Daisy Ho, Versace, Grand Lisboa Palace","focusai_location":"Macau, Cotai Strip","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SJM Operational Capacity?","query":"What is SJM's projected timeline for achieving full operational capacity at Grand Lisboa Palace and the Palazzo Versace, particularly regarding non-gaming amenities and room availability?"},{"label":"SJM Competitive Positioning?","query":"How does SJM's current GGR market share and financial performance compare to its Macau concessionaire peers, and what are the strategic implications for its competitive positioning in the post-pandemic recovery?"}],"footnotes":""},"categories":[157,16338],"tags":[23808,23108],"class_list":["post-777003368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-grand-lisboa-palace","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003368","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=777003368"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003368\/revisions"}],"predecessor-version":[{"id":777003412,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003368\/revisions\/777003412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20947"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}