Ready to take a chance again

If you listen carefully while walking through the Grand Lisboa, you just might hear what we heard on opening day: Barry Manilow’s “Ready to take a chance again”. Stanley Ho might even dance to this tune himself, for that is exactly what Macau’s casino king is doing with the new HK$5 billion entertainment complex that opened on Sunday.

Indeed, with a dazzling show that included acrobats in helium-filled balloons dancing across the night sky, and a breathtaking light show on the Grand Lisboa’s exterior – the world’s largest integrated LED screen – Ho has clearly upped the ante on his competitors.

Ho, who ran the city’s gaming business on his own for 40 years until 2002, still has the edge over the new entrants from Las Vegas, with his 18 casinos controlling more than half of the market (Ho’s SJM claims that statistics at the end of 2006 show the company has 63 percent). Nevertheless, that share has been declining with each new casino that opens in Macau, and so the Grand Lisboa is being widely seen as a bold bet to reassert the former monopoly operator as a competitive force on the quality, not just the quantity, of its assets.

Just before the opening ceremony, which was attended by Macau Chief Executive Edmund Ho and senior representatives of the Chinese central government, the 86-year-old Ho said he is keeping his creative juices flowing to ensure his company, SJM, can compete on an international level.

“We are coming up with more and more ideas and plans, because we know if we don’t keep working on new ideas, we simply can’t compete,” Ho said.

Ho said SJM will announce some new developments during the first few days of the Chinese New Year, saying it was too early to comment on the Cotai Strip, Ponte 16 and Oceanus projects just yet. He said he also anticipates SJM to be listed on the Hong Kong Stock Exchange by September this year.

The Grand Lisboa, now the flagship property for SJM, sets a new benchmark for the company’s future direction, Ho added.

“Stylistically, a daring and contemporary entertainment attraction, it remains true to our history and heritage within the Macau market, while reflecting the progressive direction of the organization,” he said.

Frank McFadden, President, JV and business developments for SJM told Destination Macau: “The Grand Lisboa is a welcome addition built to model the aspirations of the Chinese player.”

The Grand Lisboa, which was designed by architects DLN (Dennis Lau & Ng Chung Man), with interior work by celebrated British-Chinese designer Khuan Chew, opened with four gaming floors and six restaurants ahead of the Chinese New Year. The remainder of the complex, which includes a 47-storey tower, will open with 430 hotel rooms toward the end of the year.