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Macau casino operator SJM Holdings Ltd says its Cotai property, the HKD39-billion (US$5-billion) Grand Lisboa Palace (pictured), has now passed the government’s “final inspections”. The comments were made by SJM Holdings’ chief executive, Ambrose So Shu Fai, in the company’s annual report issued on Thursday. “At Grand Lisboa Palace, we have passed several of the final government inspections, and we expect to receive our operating permit soon,” stated Mr So. The firm has anticipated the Cotai project will open “during the first half of 2021,” according to previous corporate information. The CEO added: “The subsequent opening of the Grand Lisboa Palace will relieve some of the cost pressures on our existing operation, as we will be able to transfer a large number of current employees to the new property.” ....
Angela Leong On Kei (pictured), an executive director and co-chairman of Macau casino operator SJM Holdings Ltd, has pledged to take US$36-million worth of the nearly-US$1 billion in U.S.-dollar-denominated senior notes issued by the firm on January 27. The information, lodged with the Hong Kong bourse, means Ms Leong – fourth consort of the group’s late founder, Stanley Ho Hung Sun, and mother of his youngest children – has the largest allocation of the notes among those interests declared by directors of SJM Holdings. Declarations by directors account for US$77.5-million of the notes. All the transactions were on the day the notes were issued, a date confirmed by a January 28 filing to the Hong Kong bourse. ....