SJM to spend HK$30b on Macau casino resort due to higher costs

[HONG KONG] SJM Holdings Ltd, Asia's biggest casino operator, will spend HK$30 billion (S$4.9 billion) to build its first resort in Macau's Cotai area, HK$5 billion more than planned because of higher construction and labour costs.

SJM broke ground yesterday on Lisboa Palace, which will have as many as 700 gambling tables and 1,200 slot machines, according to a statement. Scheduled to open in 2017, it will have three hotels with more than 2,500 rooms, including a luxury hotel in partnership with Italian...

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