Versace teams up with SJM to outfit Macau hotel

Macau’s largest casino operator SJM Holdings (0880.HKG) will partner with Italian luxury brand Versace to open a new project in the Chinese territory, The Wall Street Journal reported. The Palazzo Versace Macau will be part of SJM’s new casino-resort project in Macau’s Cotai area, the two firms said Tuesday in a statement. The project will have 700 gambling tables and 2,000 hotel rooms. It will be the Italian fashion house’s third Palazzo Versace venture, following one in Australia and another under construction in Dubai. Macau’s US$38 billion gambling revenue last year was six times that of the Las Vegas strip.