Two days ago, representatives of SJM Holdings, the company managed by the casino mogul Stanley Ho, announced that the construction of the Cotai-based Lisboa Palace will most probably be finished by the end of 2017.
Up to now, the company has been avoiding giving precise information as to whether the project will be completed at the beginning or the end of 2017. The only information revealed in previous announcements was that Lisboa Palace is expected to open doors “sometime” in 2017 and the construction of the venue, which started a year ago, will cost SJM Holdings the sum of HKD30 billion or US$3.9 billion.
There will be three hotels established within the premises, including a Palazzo Versace Macau and Karl Lagerfeld Hotel, which will feature 2,000 rooms. There will be appealing dining, entertainment and shopping facilities as well.
As for the casino, it is expected to have more than 1,000 slot machines and 700 gaming tables. However, before being installed and available to players and guests, Mr. Ho will have to obtain the respective licenses concerning the availability of gambling facilities within the resort.
Meanwhile, one of the subsidiaries of SJM Holdings signed a contract with Kao Lek Engineering Co Ltd. for the sum of HKD541 million. The above-mentioned contract is related to the construction of Lisboa Palace or to be more precise, to the excavation of the basement, the concrete structure and the building work in general.
It is a well-known fact that the Lisboa Palace will have serious rivals when it opens doors. Although the situation on the Asian gambling market is pretty unstable, at least two casino venues are expected to open next year.
Yet, their opening was postponed due to a variety of reasons. The target dates they previously announced have been recently changed.
Wynn Palace officials, a venue which was supposed to be completed by the end of the year, announced that it is not likely to open doors before the Chinese New Year in 2016. Representatives pointed the issues related to obtaining the necessary construction permits as a main reason for the delay.
As for the opening of the Parisian Macao, its executives revealed that it will most probably take place “sometime” in 2016 although it was previously reported that its soft opening will be in the end of 2015.
What is more, MGM China Holdings announced a change related to the opening of their Cotai-based venue. It was announced that it will have its first visitors at the beginning of 2016 but later, company’s officials revealed that the opening will be no earlier than the fall of 2016.
