Lisboa Palace opening pushed into late-2020

Macau gaming operator SJM Holdings may be planning to delay the completion and opening dates of its under-construction integrated resort in Cotai.

First reported by Hong Kong newspaper Ming Pao, the completion date of the Grand Lisboa Palace is said to have been pushed back to March 31, 2020, while the opening date will likely fall later that same year.

The integrated resort, casino operator SJM’s first foray into Cotai, has been beset by delays for years. It was previously expected to open its doors to the public later this year or early 2020.

It remains unclear what has caused the latest delay.

SJM Holdings Ltd. tumbled as much as 5.4% on Friday after the casino operator sought a loan waiver to extend the completion and opening dates for the resort, reported Bloomberg.

The construction site at the Grand Lisboa Palace has caught fire numerous times since work began in February 2014.

A fire that broke out in April was at least the fifth suspicious case in a series of possible arsons over the past five years. The Judiciary Police said it suspected foul play in the most recent cases. DB

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