Macau’s Ponte 16 resort has secured government approval to expand its facilities with a significant addition: a floating casino named the “Macau Palace.” This landmark project will form part of a broader revitalization plan along the Inner Harbor waterfront. The government’s recent modification of Ponte 16’s land concession clears the way for construction, adjusting the property’s land use and extending its lease until 2030. This move aligns with Macau’s goal to diversify beyond gaming by enhancing the area’s cultural and commercial offerings.
The revised concession allocates two main plots totaling approximately 18,000 square meters for the Ponte 16 development. One plot, covering around 9,424 square meters, will continue to host the existing Ponte 16 hotel and entertainment facilities. The second plot, spanning 9,217 square meters, will be transformed into a commercial complex that includes a plaza, shopping areas, and the Macau Palace floating casino, set on a 2,084 square meter platform. The project also includes upgrades to Pier No. 14, all intended to breathe new life into the historic Inner Harbor, according to Asia Gaming Brief.
Government Approval Sets the Stage for Floating Casino Development
With the land rights officially secured, Ponte 16 has 36 months to complete the newly approved developments. The land modification came at a premium cost of MOP459 million (approximately $57.3 million), reflecting the commitment of the government and Ponte 16’s backers to position the area as a renewed cultural and entertainment hub. The land expansion also saw Ponte 16 return several smaller parcels totaling 4,425 square meters to the government.
The Macau Palace floating casino is a highlight of the project, bringing a nostalgic element to the waterfront. Originally, the Macau Palace operated as a floating barge casino by SJM Holdings’ parent company, STDM, near the Macau Ferry Terminal from 1995 to 2007. Since its relocation and decommissioning at the Inner Harbor, the vessel has remained a recognizable symbol. Once complete, the floating casino will revive this iconic structure, with plans to offer not only gaming but also food, shopping, and cultural attractions, enhancing the entertainment options available at Ponte 16.
Collaboration Between SJM Holdings and Success Universe
Ponte 16’s development is a collaboration between SJM Holdings and Success Universe Group, which is listed in Hong Kong. SJM Holdings, a major gaming concessionaire in Macau, provides the gaming license for Ponte 16’s casino operations. In December 2022, shortly after SJM Holdings secured a renewed 10-year concession, the company detailed plans to incorporate more non-gaming elements into its portfolio, including the Macau Palace concept as part of its pledge to boost Macau’s cultural appeal.
The partnership’s investment in the floating casino and surrounding area is estimated to cost more than HKD100 million (approximately $12.8 million). Additional updates to the Ponte 16 site will include the preservation of Piers 14 and 16, recognized as heritage sites in the area. This project underscores Macau’s efforts to balance gaming with cultural and recreational spaces, appealing to a wider audience of tourists and locals.
“Expanding with non-gaming attractions such as Macau Palace and new commercial spaces marks a pivotal step in diversifying our appeal,” said representatives from SJM Holdings. This vision aligns with Macau‘s government objectives, which emphasize revitalizing urban areas through tourism-related projects that contribute to the cultural landscape.