Expanded Hotel Lisboa of Macao aims to be Asia's most luxuriousExpansion project of a new wing of Asia's oldest casino resort Hotel Lisboa in Macao is expected to cost some 250 million US dollars to flaunt itself among Asia's most luxury hotels.
Macao's largest Portuguese-languaged newspaper Ponto Final said Friday that Stanley Ho Hung Sun will launch construction of the 40-story Grand Lisboa next to his flagship Hotel Lisboa, which houses his largest casino-entertainment parlors, this month.
The newspaper quoted its sources with Ho's Macao Gaming Co. Ltd.as saying that the 40-floor mega-hotel will comprise 800 hotel rooms and 30,000 square meters in casino space.
The expansion project to be completed in 40 months in two phases will be started on a former soccer pitch, facing the three-decade old Hotel Lisboa across a street and connected by an overhead walkway. It is expected to turn the future hotel into Macao's tallest building.
At present, the 338-meter Macao Tower is the tallest building in Macao, which is also owned by Ho's affiliated company.
Speaking to the media earlier this year, Ho said the hotel's facade would resemble the lotus flower, which is regarded as an official emblem of Macao Special Administrative Region (SAR).
Ho's gaming company now runs all 12 operating casinos in Macao.The company holds one of Macao's three casino-operating concessions granted by the Macao SAR government in 2002. The other two concessions are held by the Hong Kong-owned Galaxy Group with The Venetian from Las Vegas as a sub-concession, and Wynn Resorts from Las Vegas.
Galaxy and The Venetian have announced their plan to open their first casinos in Macao next month. Wynn Resorts is expected to start construction of a mega-casino resort in Macao's Outer Harborby the end of the year.
However, before the high-profile exposure of foreign casino rivals, Ho still has the stronghold in the gaming market. His casino business made a record net profit of 3.3 billion patacas (412 million US dollars) last year, an increase of around 50 percent on the previous year.
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