The promoter of The 13 (pictured), a hotel project on the border of the Cotai and Coloane districts in Macau, says it now expects the hotel will be opened by the end of July.
The Monday filing to the Hong Kong Stock Exchange from The 13 Holdings Ltd made no mention of gaming.
“It is anticipated that the hotel will be opened by the end of July 2017,” stated the document.”
In the company’s interim report, filed in December, it had said the property was “on track” to open in the first quarter of this year. A March email from a public relations agency – in response to a GGRAsia enquiry to The 13 Holdings – had mentioned an opening date for the property would be announced “later in the year”.
Monday’s filing stated: “The occupation permit in respect of the hotel was issued by the Macau government on 29 March, 2017. The company is now in the process of obtaining necessary licences for the operation and pre-opening preparation of the hotel.”
The 13 Holdings had previously said that the average construction cost per room was more than US$7 million – an aggregate construction spend of more than US$1.4 billion for all the rooms in the property. It is described as an all-villa hotel with 200 accommodation units.
The company has in the past mentioned plans for a casino at the property, but has made no reference in its more recent releases about the possibility of gaming facilities at the venue.
In February, a related party of Evolution Capital Management acquired – from the Ontario Teachers’ Pension Plan Board – some convertible bonds in The 13 Holdings, to a total principle value of approximately HKD1.75 billion (US$225.4 million).
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”Given that the blanket casino closure [in Macau due to Typhoon Mangkhut] happened on an all-important weekend day… we expect that somewhere between MOP1.1 billion [US$136.2 million] and MOP1.5 billion in GGR will be lost”
Analyst at Union Gaming Securities Asia