Macau casino operator Sands China Ltd was granted more time by the Macau government to complete its Parisian Macao resort (pictured) in the city’s Cotai district, reports Portuguese-language newspaper Jornal Tribuna de Macau.
Under Sands China’s land concession for the Parisian Macao, the company was required to complete the development of the project by April 2016, the firm had said in previous filings.
The deadline for completion of the scheme has now been extended to November, Macau’s Land, Public Works and Transport Bureau told Tribuna de Macau.
The casino operator had applied for an extension to complete the Parisian Macao in May last year, according to the newspaper. The company had previously said it believed it would be unable to meet the April 2016 deadline.
The US$2.7-billion property is scheduled to launch in the latter part of this year. On a conference call in January following the 2015 results announcement, Sands China chairman and chief executive Sheldon Adelson said the firm was targeting a September opening.
Mr Adelson added that the firm might also consider the possibility of a partial opening at an earlier date “if the opportunity arises”.
The Macau government had in July 2012 extended the land concession for the Parisian Macao to April 2016. Development of the property however was suspended for a few months in 2014 following an on-site work accident.
The Parisian Macao features a scale replica of the Eiffel Tower, with a restaurant and observation decks. The property will feature 3,000 hotel rooms and a casino.
Sands China is also planning to connect the Parisian Macao to Sands Cotai Central “with an air-conditioned walkover bridge equipped with airport-style moving sidewalks,” Mr Adelson said in January.
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”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia