The opening date of Grand Lisboa Palace looks set to be postponed again with SJM considering adjusting its operational strategies, according to SJM Holdings Co-Chairman and Executive Director, Angela Leong On Kei.
Speaking to media at SJM’s gala celebrating the People’s Republic of China’s 71th anniversary on Wednesday, Leong hinted that Grand Lisboa Palace may not open within this year.
“All licensees of Grand Lisboa Palace have been approved by the government and the property environment is ready,” Leong said.
“But it is already October and we need to see the entire economy. A lot of retailers are unable to open due to the pandemic: it is meaningless if we only open the hotel and do not have other non-gaming elements.”
Leong said that the opening date for the Grand Lisboa Palace had not yet been confirmed by SJM’s Board of Directors, while the company may also adjust its business strategy in relation to the VIP gaming market.
“There are many uncertainties if Grand Lisboa Palace opens this year,” she said. “Many border restrictions remain and things keep changing, so we will change our policies on business in accordance with the latest development in Macau’s market.”
SJM had previously stated its intention to open Grand Lisboa Palace by December 2020 following numerous construction delays in recent years, but once again to be postponed due to the COVID-19 pandemic.
Leong also admitted that guest numbers during the October Golden Week were even worse than anticipated, although the situation had improved slightly in recent days.