Sands hands out huge jackpot; SJM Cotai expansion plans almost ready

TAGs: Cotai, Macau, sands macau, SJM Holdings

sands china and sjmSands Macau has dished out what is believed to be the Chinese gambling industry enclave’s largest ever jackpot. The HK$21million (US$2.7m) was won by a slots player from Heilongjiang province as the player hit the “Fa Fa Fa Grand Jackpot” while using the 5 Dragons slot machine. The casino itself was rather pleased with the money being handed over with Geoffry Andres, senior vice president and general manager of Sands Macao, commenting: “We’re so thrilled for our winner and his fantastic luck here at Sands.”

Figures from the company quoted by Macau Business suggest the casino has already dished out HK$26.3m in winnings this year and it continues to illustrate how popular the gaming industry is in this part of the world.

SJM Holdings will submit what has been dubbed their “master plan” for expansion into the Cotai strip as early as this week. CEO Ambrose So Shu Fai told observers the new project would include more non-gaming industry interests and they’re aiming to submit a land grant request soon and “hopefully” have it approved by the middle of 2012. TDM quoted So: “We’re doing it now because without this master plan it is not possible for the Macau government to calculate the premium to be charged and to start the land grant. We’ll submit as quickly as possible because we have the parameters of the design now.”

The firm that was formerly under the control of Stanley Ho has delayed its attendance at the Cotai party up until now. So doesn’t envisage this being at all problematic, commenting: “We have the advantage of knowing what can be done and what cannot be done, what is successful and what is not successful.”


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