Casino Lisboa

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Stanley Ho announces that his original Macau casino is to be demolished for new property

It is part of the history of Macau; the oldest casino still operating in the Chinese enclave. While SJM Chairman and CEO Stanley Ho said the original building will remain standing-the one which contains the unique casino-the rest of his Casino Lisboa will fall to the wrecking ball. An international competition will be held to decide how the resort will be rebuilt.
  
 ”Since its opening in 1970, Hotel Lisboa has played an important role in Macau’s economic development. The rebuilding project … accentuates our promise to further promote Macau’s economic prosperity,” said Ho.
   
The legendary circular casino, built faithful to the feng shui principles, was the center of Asian gaming for many years. When Macau opened up to international gaming companies in 2002, Lisboa quickly became outdated. Ho built the Grand Lisboa across the street from the original casino, but customers still frequented Lisboa as much as its much more opulent neighbor.
   
Despite the entry of powerful new gaming companies and fabulous properties, SJM remains the market leader. This new construction is a bid to remain so.
   
“As Macau’s gaming sector continues to develop we do not take our market leadership position for granted,” says Ambrose So, director of SJM. “SJM is taking this important step to ensure that its properties set the standard in gaming and entertainment in Macau.”
   
With the launch of the architectural competition, Ho expects to name a winner by early February. Demolition will take place in 2009 and the new property will debut in 2012.