SJM Holdings is likely to be forced to delay the opening of its Grand Lisboa Palace to Q3 from Q2 due to the ongoing wait for licensing permits, Morgan Stanley notes.

It is still waiting for an occupancy permit and other approvals from both the Macau Government Tourism Office and the Gaming Inspection and Coordination Bureau that could take at least four to eight weeks, the firm said.

SJM plans to open 260 mass tables at the resort, while 44 VIP tables aren’t likely to open until 2022 when the high-end Versace hotel opens, it said. The property is likely to debut with 650 rooms in its own-brand hotel.