blogs  
 
yournews
   
 
Video Photos Finance Travel Weather Discussion TV Shows
| |
 
  Home ›
 
Business News

 

Sands delays Macau casino project due to labour shortage
Posted: 27 August 2010 1933 hrs

  Casinos in Macau
 
Photos  of

   
 


HONG KONG : The Macau unit of Sheldon Adelson's Las Vegas Sands announced Friday a further delay in opening its glitzy four billion dollar casino resort in the city due to a shortage of construction workers.

Sands China, which already runs the Venetian Macau, the Four Seasons and Sands Macau, is planning a casino resort in the former Portuguese enclave turned gambling haven featuring 6,000 luxury and mid-scale hotel rooms.

But Macau has in recent months tightened restrictions on immigrant labour due to pressure from home-grown labour groups, including banning foreigners with only tourist visas from working in the city.

"Due to matters beyond the company's control, we have faced challenges acquiring the construction labour that we need quickly enough to be able to meet our original development and opening deadlines," Sands China said in a statement to the Hong Kong Stock Exchange.

It added that the company estimated it would take about 16 months to finish the first phase, "once we have sufficient labour to ramp up construction activities to requisite levels".

The first phase of the project will now open in the Cotai Strip in the fourth quarter of 2011, and the second phase six months after that, the statement said.

Adelson earlier said he expected the first phase to open in 2011, without being more specific.

The project was earlier brought to a halt during the financial crisis due to financing problems.

Macau, which was handed back to China in 1999, is the only Chinese city where casino gambling is allowed. It has overtaken Las Vegas in terms of gaming revenue after the sector was opened to foreign competition in 2002. - AFP/ch

 


Other business News
Eurozone sets conditions for Greek bailout
Banks agree US$25b deal for US homeowners
China releases Jan trade data
Flights back to normal Friday after strike: Air France
M'sia trade expected to grow at slower pace
US stocks gain on Greece, bank mortgage deal
Euro edges up as Greece inks reform deal
Oil prices rise on Greek deal
Eurozone stalls Greek cash aid pending new conditions
China says January exports expected to have dropped
Greece says agreement reached on austerity measures: ECB
ECB holds key interest rate steady at 1.0%
OPEC cuts 2012 oil demand forecast
China's January inflation hits 3-month high
Spain's economy to worsen in Q1
Indonesia cuts interest rate to record low
Malaysia sees record trade in 2011
Rio Tinto earnings down 59% on aluminium write-down
Asia stocks mixed on Greek fears, China inflation
China's Alibaba raising US$3b for Yahoo! stake

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions