Estimated costs have spiked
SJM Holdings Ltd., the holding company of Stanley Ho’s Sociedade de Jogos de Macau, is negotiating the terms of a multibillion-dollar loan to complete its planned Lisboa Palace on the Cotai Strip.
According to the World Casino Directory, the London-based publication Global Capital cites a “banker familiar with the situation” who said the Industrial and Commercial Bank of China is representing SJM in the negotiations. “The gaming industry is not doing so well, but we are talking about the top three or five players here,” the banker reportedly said. “These players will have the means to develop alternative sources of revenue, like visitor tours, and increase their income.”
The integrated resort, which broke ground two years ago, is set to open in 2017 with three hotels and a casino with the capacity for more than 1,200 slot machines and 700 gaming tables.
No details are available, but the Macau Business Daily speculated that the loan may have a four-year or six-year term.
