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MACAU: Around 9,000 construction workers are to lose their jobs as US gaming giant Las Vegas Sands cuts back on a huge development in the gambling haven of Macau, the head of Sands Asia said on Thursday.
Stephen Weaver told a news conference in the southern Chinese enclave, which has surpassed Las Vegas as the world's top gambling spot, that most of the jobs would be lost in Hong Kong and mainland China.
Las Vegas Sands, which operates two casinos in Macau including the giant Venetian complex, announced this week it was halting part of the 12-billion-dollar development on the Cotai Strip.
It said it was having trouble accessing credit during the global financial crisis but would continue to seek financing that would enable it to complete the project, which includes a 1,800-room Sheraton hotel and three casinos.
Weaver confirmed on Thursday that the company was looking for 1.5 to two billion dollars in extra financing and was talking to a syndicate of banks.
- AFP/so
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