$5B Grand Lisboa Palace Casino Opening July 30, Cotai Debut for SJM
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GGRAsia – Grand Lisboa Palace launch might be delayed to 3Q: MS
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Macau casino operator SJM Holdings Ltd expects to get up to 200 new-to-market live gaming tables for the opening of its HKD39-billion (US$5-billion) Grand Lisboa Palace gaming resort (pictured) on Cotai, a property the firm wants to open before the end of the first half.
That is according to a Tuesday note from brokerage Sanford C. Bernstein Ltd, citing commentary from the casino group’s management following its first-quarter earnings filed that day with the Hong Kong Stock Exchange.
“SJM has not yet had a table allocation” from the city’s government for Grand Lisboa Palace, stated Sanford Bernstein. It added the casino group expected a new-table allocation from the Macau government “similar to other recent Cotai property openings (150 to 200 tables)”.