• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 28 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Lack of premium mass strategy begs questions of SJM’s Grand Lisboa Palace launch: analysts

Newsdesk by Newsdesk
Thu 12 Sep 2019 at 18:13
SJM expects to complete construction of Grand Lisboa Palace in 1H19 as 2018 profit grows 45.2%
99
SHARES
2.3k
VIEWS
Print Friendly, PDF & Email

The short-term success of SJM’s under-construction Cotai integrated resort, Grand Lisboa Palace, appears questionable with the company’s lack of expertise in the lucrative premium mass market an ongoing cause of concern.

That’s the opinion of Sanford C Bernstein analysts, who also warn of the potential for further delays to come after SJM revealed in July a revised opening date of December 2020.

“With the ‘continuing’ delay in coming to Cotai, SJM is set to continue to lose market share,” said analysts Vitaly Umansky, Eunice Lee and Kelsey Zhu. “And even with the eventual opening of Grand Lisboa Palace, there is little to be bullish about. As we have seen from the slower than anticipated ramp up of MGM Cotai, a new property on Cotai is not an easy endeavor.

“The key is premium mass, something SJM has not been able to execute on in the past and will face a steep curve with the Cotai property.

“We see no company specific catalysts that will benefit the company in the near or medium term (even if mass performance on peninsula has shown some modest improvement).

“The lack of any strategy to capture the high margin premium mass market and the continued delay in opening Cotai are fundamental problems with management direction and focus.”

Despite those concerns, Bernstein believes SJM shares now show limited downside, having fallen 37% to below HK$8.00 from a 2019 high of HK$10.62 in May in response to predicted risks.

However, in the wake of Grand Lisboa Palace’s opening date being put back to late 2020 and the construction budget increased from HK$36 billion to HK$39 billion, they also warned that further delays wouldn’t surprise.

“The delay in opening and cost escalation came as no surprises to us as we were already modeling a higher cost,” the analysts said. “We would not be shocked if delays get extended further and the final budget goes higher.”

RelatedPosts

Solutions Showcase: LT Game – Game Time

Macau’s Paradise Ent sees revenue rise 19% in 1H25 but notes need for regional expansion as impact of satellite casino closure nears

Thu 28 Aug 2025 at 06:06
RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

RGB sees sequential improvement in 2Q25 on revenues of US$22.4 million

Thu 28 Aug 2025 at 05:13
Ainsworth flags 1H25 revenue growth on Australian market strength but Novomatic takeover facing opposition by family of founder

Ainsworth and Novomatic terminate scheme of arrangement following revolt by shareholder block, unconditional takeover offer remains

Wed 27 Aug 2025 at 05:17
Tak Chun boss Levo Chan to make mandatory cash offer for additional 29% stake in Macau Legend

Macau Legend to recognize US$165 million impairment on loss of satellite casino operations at Legend Palace

Wed 27 Aug 2025 at 04:39
Load More
Tags: analystsAsian gaming power 50 gala dinnercasinoCotaiGamingGrand Lisboa Palaceintegrated resortMacauSJM Holdings
Share43Share7
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Solutions Showcase: LT Game – Game Time

Macau’s Paradise Ent sees revenue rise 19% in 1H25 but notes need for regional expansion as impact of satellite casino closure nears

by Ben Blaschke
Thu 28 Aug 2025 at 06:06

Macau’s Paradise Entertainment has outlined its efforts to expand both its gaming equipment supply business and casino management experience across Asia after admitting it will suffer a material decline in revenue and profit once its contract to provide management services...

Analysts puzzled as combined market cap of Macau concessionaires falls back to 2022 COVID levels

Hong Kong Stock Exchange confirms delisting of LET Group and Summit Ascent scheduled for 1 September

by Newsdesk
Thu 28 Aug 2025 at 05:32

Following the recent announcement by Hong Kong’s LET Group Holdings and its subsidiary Summit Ascent Holdings that they were scheduled to be delisted at the end of this month, the Hong Kong Stock Exchange has confirmed that the listing of...

Aristocrat’s acquisition of ETG supplier Interblock said to have stalled over price

Aristocrat Gaming launches new “positive play” website

by Newsdesk
Thu 28 Aug 2025 at 05:30

Aristocrat Gaming has launched a new responsible gaming website designed to educate and enable players on smarter, more informed play. Part of the company’s “Know Your Max” campaign launched in 2023. The new website, KnowYourMax.com, provides a suite of positive...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

RGB sees sequential improvement in 2Q25 on revenues of US$22.4 million

by Ben Blaschke
Thu 28 Aug 2025 at 05:13

Malaysian gaming product distributor RGB International Bhd reported group-wide revenue of MYR94.9 million (US$22.4 million) for the three months to 30 June 2025, down 5% year-on-year but 29% higher than the March 2025 quarter. In a filing, RGB explained that...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語