So: 2019 will be a good year for GGR
Macau casino operator SJM Holdings Ltd. is seeking “300 to 500” new-to-market gaming tables for its HKD36 billion (US$4.6 billion) Cotai project, Grand Lisboa Palace, which is expected to open in late 2019.
Speaking to local media earlier this month, SJM Vice Chairman and CEO Ambrose So said the company will apply for the table allotment in the first half of 2019 when it meets “sufficient conditions to apply for the operation permit.” So added that he’s upbeat about Macau’s prospects for 2019. He says gross gaming revenues in the world’s leading casino market will improve in part due to the opening of the new Hong Kong-Zhuhai-Macau Bridge.
According to GGRAsia, Grand Lisboa Palace will be a “five-star” property with about 2,000 guest rooms and three luxury hotels under the Grand Lisboa, Palazzo Versace and Karl Lagerfeld brands.
So said his firm will reallocate some of its current gaming tables from other Macau properties to the Palace, but did not specify how many. In the third quarter of this year, SJM operated 291 VIP tables and 1,408 mass-market tables, according to the firm’s third-quarter results filing released to the Hong Kong Stock Exchange.
