With Macau gambling revenue an important factor in casino operator Las Vegas Sands reporting positive financial results, the recent news that their Macau expansion project will be delayed does not fare well.
The Cotai Strip project was delayed in November 2008 at the peak of the global credit crunch however Sands China the Macau subsidiary of Las Vegas Sands recently resumed work and reported that approximately 1,300 construction workers were on site.
Unfortunately for Sands the amount of workers enacted will not be enough to pull off the planned third quarter 2011 opening.
In a press release this week, Michael Leven acting chief executive said that the project would require 10,000 to 11,000 labors at the peak of construction but that Sands was unable to contract the necessary amount of workers due to foreign labor restrictions in the Chinese territory.
The statement continued to say that at the current rate it is uncertain when the project would be open noting that it would take approximately 16 months to complete once enough workers are contracted.
The Cotai Strip project is also known as parcels 5 and 6 and is expected to feature the world’s biggest casino as well as Shangri-La, Traders and Sheraton hotel brands.
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