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Ponte 16’s new extension could cost nearly 620 million patacas

Plans for the Inner Harbour casino’s long-awaited addition have been submitted to the government for approval, its co-owner confirms.

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The Ponte 16 casino’s long-awaited extension will reportedly cost between 515 million and 618 million patacas (roughly US$64 million to US$77 million), according to media reports.

This figure was cited by the chairman of Hong Kong-listed Success Universe Group, Hoffman Ma, which controls 49 percent of the Inner Harbour leisure complex. The concessionaire SJM Holdings controls the remaining 51 percent and holds Ponte 16’s gaming licence. 

Ma said that plans for the extension – known as Phase 3 – had been submitted to the government for approval.

[See more: The iconic Macau Palace gets a new lease of life]

An additional sum of more than 100 million patacas has been budgeted to renovate the property’s hotel, Sofitel Macau, said Ma.

He noted that these projects would be financed by gaming operations at Ponte 16.

A refurbished Macau Palace – formerly a floating casino featured in a James Bond movie – is also set to join the Ponte 16 complex, according to previous reports. The plan is to reopen the iconic structure as a dining destination, retail space and museum of gaming culture.

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