Funding hope breathes life into sands China.
Sands China Ltd is a multi-billion dollar casino being built in the resort of Macau, the only Chinese region which operates legal gambling. But this is not just any casino: it's set to become the world's largest casino. The resort is planned over a site of 13.3 million square feet and will include hotels and shopping malls alongside the main casino.
The funding for the project stalled and building work ground to a halt last November, when credit dried up and revenue couldn't keep pace with the expensive demands of the project. Sands are now actively seeking to raise $3.3 billion by shares floatation, in order to recommence work in Macau.
Think BIG
The site is two thirds
completed and current activities to raise revenue could ensure renewed building
work as early as January 2010. It is estimated that a labor force of 12,000
will be needed on this massive construction project.
The casino is expected to have an astronomical 670 tables and the complex will include two hotels towers, which together will offer 6,000 rooms to gamblers looking for a thrilling, luxury break.
Sands Chairman, Sheldon Adelson, sees the current project as part of a wider and more ambitious quest: to turn Macau into a Chinese Las Vegas Strip - with gambling, conference and shopping facilities, alongside the casino, all providing a real draw to tourists.
Launch Dates in Sight
The projected launch
date of the casino and one hotel is June 2011, with the grand opening of the
second phase, which encompasses another hotel and a retail complex, planned for
December 2011.
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