To align with the revitalization project for Inner Harbor Pier No. 16, the government has approved a modification to the land grant for Ponte 16, which is now set to move closer to the construction of the Floating Casino.
The land area has been adjusted to two plots totaling approximately 18,000 square meters, with a land usage period of 36 months.
Previously, Ponte 16 was granted a land area of 23,066 square meters. The government has now approved a reduction, with the two new plots totaling 18,641 square meters, in exchange for an additional land premium of MOP459 million ($57.3 million).
The land currently hosts the Ponte 16 hotel and entertainment facilities. One of the two plots, measuring 9,424 square meters, will retain the existing hotel, while the other, measuring 9,217 square meters, will be developed into a commercial building and plaza. The project will also include the floating casino Macau Palace, with a built-up area of 2,084 square meters, as well as the renovation of Pier No. 14.
As reported earlier by AGB, Macau gaming operator SJM Holdings has projected that the construction phase will take nearly two years, meaning the revitalization plan is expected to be completed before 2026.
Ponte 16 is a joint venture between SJM Holdings and Hong Kong-listed Success Universe Group, with the casino on the property operating as a satellite casino linked to the operator’s concession.
Success Universe previously revealed that the expansion plans could cost over HKD100 million ($12.8 million).
The only current floating casino in Macau is the Macau Palace, a barge casino that was previously moored next to the Macau Ferry Terminal and operated by STDM, the parent company of SJM.
The casino operated from 1995 to 2007 before being relocated to a segment of the Inner Harbor near Fai Chi Kei.
Aside from being used as a filming location and for other promotional purposes, the former floating casino has been derelict since its decommissioning.
