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SJM expected to partially open Lisboa Palace in Q1

SJM Holdings is expected to only partially open its new Grand Lisboa resort on Cotai in Q1, with rooms and tables dictated by market conditions at the time, Union Gaming says.

The firm said it expects a large portion of hospitality amenities to be delayed until more significant demand returns.

“We are anxiously awaiting the opening of Grand Lisboa Palace (GLP) and see the new hardware as a potential demand driver in helping attract visitors to Macau throughout the recovery,” the firm said. “However, given the current environment, we are expecting a slower ramp throughout 2021 and looking forward to 2022 as the first full year of operations. We are currently forecasting HK$1.86bn (~US$240m) of EBITDA for GLP in 2022.”

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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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