The president of Macau casino operator Sands China Ltd says that the redevelopment of the firm’s Sands Cotai Central casino resort to transform it into a themed property called The Londoner Macao will begin at the end of this year.
Wilfred Wong Ying Wai (pictured in a file photo) said the revamp – which sought to renovate, expand and rebrand Sands Cotai Central using iconic symbols of the British capital – was currently in the design stage for changes to the property’s exterior and interior.
The executive made the comments to local Chinese-language newspaper Macao Daily News during a public occasion.
Regarding the soon-to-open MGM Cotai, operated by rival concessionaire MGM China Holdings Ltd, Mr Wong said new properties would benefit the entire market as they were likely to attract more visitors to the city.
U.S.-based casino operator Las Vegas Sands Corp, the parent of Sands China, announced in October a “phased” redevelopment of Sands Cotai Central, to be completed in 2020.
“The Londoner Macao will feature dynamic new attractions and features from London including some of London’s most recognisable landmarks, an expanded and reimagined retail mall and 350 luxurious new suites, the St. Regis Tower Suites,” said at the time Sheldon Adelson, chairman and chief executive of Las Vegas Sands.
Japanese brokerage Nomura estimated that some disruption to operations likely from the revamp of the property could hurt the earnings of Sands China in 2018 and 2019.
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“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”
Vitaly Umansky, Kelsey Zhu and Tianjiao Yu
Analysts at brokerage Sanford C. Bernstein