SJM, Versace Sign Agreement to Open Macau Hotel
August 20 2013 - 5:07AM
Dow Jones News
By Kate O'Keeffe
Macau casino operator SJM Holdings Ltd. (0880.HK) and Italian
fashion house Gianni Versace SpA said they have signed an agreement
to open a hotel in the world's gambling capital.
The Palazzo Versace Macau will be a part of SJM's new
casino-resort project in Macau's fast-growing Cotai area, according
to a joint statement from the firms Tuesday.
The news of the tie-up is the first real glimpse into SJM's
vision for its Cotai project. Macau's other five casino operators
have already sketched out their Cotai plans. It also could mark a
design departure for the casino operator, whose flagship Grand
Lisboa casino is known for its towering lotus structure and the
expensive Chinese relics inside.
The project will be the fashion house's third Palazzo Versace
venture, following a property on Australia's Gold Coast and one in
Dubai currently under construction.
Write to Kate O'Keeffe at kathryn.okeeffe@wsj.com
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