Accused Mobster Wants Las Vegas Sands Macau Land

SJM Holdings Ltd, owned by accused Chinese Mobster Stanley Ho, has expressed an interest in land on the Cotai Strip promised to rival casino developer Sands China.

Earlier this year the Macau government said that they would revoke developers rights to underdeveloped land, however Sands China’s acting chief executive Mike Leven said that they did not have an “extraordinary level of concern”. Leven noted that the government has not notified them that another application would take precedence over theirs.

Sands China was granted licensing to begin working on sites 7 and 8 while the application for land concession was being handled by the government, so far the Las Vegas Sands subsidiary has invested over $100 million on the sites, while their main focus is the completion of a $4 billion project on sites 5 and 6 which has been delayed until late 2011.

Leven noted that the government was fully aware of their plans for development which aligned with their goals for structured growth in the region and neither the government nor Sands would be bullied into fast tracking the projects.