search.noResults

search.searching

saml.title
dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
MACAU BUSINESS By Tony Lai By Paolo A. Azevedo


SJM’s ‘much-awaited milestone’


Jeju – the new Singapore


T 18 OCTOBER 2017 20 SEPTEMBER 2021


he property was initially scheduled to open by the end of 2020 but successive delays either due to the pandemic or licensing ended with the property opting for a phased opening in the second half of this year, dependent on the


M a landmark. M. B. – The group [Lotte] has created other


progress of pandemic-related travel restrictions. Describing it as a ‘much-awaited milestone’ to the L. T. – Yes, Lotte Group has already created


landmarks in different types of business. Why would this be different?


group as its first Cotai property, chairman Daisy Ho not in the announcement that ‘over the next few months, more facilities will continue to be added to the property’. Just two days before, Ms Ho made the announcement that the HK$39 billion (US$5 billion) property would partially open with only 300 of the 1,350 rooms included in the Grand Lisboa Palace Macau Hotel available, plus some restaurants and event space.


‘A monumental amount of effort has gone into making


this project a reality and it is our attempt to diversify Macau’s tourism landscape by bringing in never-before- seen elements,’ Daisy Ho noted. “We will slowly increase the number of rooms


according to actual demand, that’s the plan. The second phase will depend on the pandemic and travel


downtown Seoul and Lotte Super Tower. We’re trying


acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A


natural evolution? Lawrence Teo – Business is the same. But building


project a reality and it is our attempt to diversify Macau’s


never-before-seen elements” Daisy Ho


Grand Lisboa Palace opened its doors partially on July 30 with a series of amenities and facilities already available to the public. SJM’s first Cotai resort is set to be fully up and running by the end of the year, according to the gaming operator.


Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades


operator was still evaluating how many will be available on the first opening day, and the VIP/mass allocation, but all available tables are currently destined for mass.


“A monumental amount of effort has gone into making this


tourism landscape by bringing in


to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.


M. B. – What are the main goals that you definitely


want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s


restrictions. We hope that by the end of this year we should be able to open up entirely,” Daisy Ho added. The Gaming Inspection and Coordination Bureau of Macau (DICJ) has also approved 150 new gaming tables for the property, with the group also allowed to add additional tables from other SJM casinos and the installation of 1,200 slot machines in the resort. Ho also revealed in a blessing ceremony that the group


plans to transfer 118 gaming tables from other properties to its new Cotai integrated resort. The SJM chairman had previously indicated that the


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68