The 13 Holdings Ltd. missed its July 31 deadline to open its hotel in Macau, a condition of its HK$3 billion (US$384 million) loan from Bank of Communications Co., according to a report from Bloomberg.
Speaking with people familiar with the matter, Bloomberg reported that the $1.6 billion luxury hotel is aiming to open before the end of the year.
Last week, MGTO director Maria Helena de Senna Fernandes told local media that the MGTO was still waiting for the request to inspect the property and start the licensing process.
“All documents are already approved but we’re still awaiting the request to inspect the property. Without the request we can’t initiate the process to grant a license,” said Fernandes.
In June, The 13 Holdings stated it was currently “in the process of obtaining necessary licences and approvals for operation of the Hotel and related activities.”
However, Ms. Fernandes says the MGTO has been waiting for the request to initiate the 14-days inspection process for some months now.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264