In Macau, American casino operator, Las Vegas Sands Corporation, has reportedly announced that its local Sands China Limited subsidiary has completed all of the external work on the extension to its Four Seasons Tower Suites Macao.
Interior work begins:
According to a report from GGRAsia, the Las Vegas-headquartered firm made the revelation via a Tuesday filing with the New York Stock Exchange before additionally detailing that its subordinate had subsequently begun the process of installing the coming enlarged hotel’s complement of 290 suites.
Doubled development budget:
October reportedly saw Las Vegas Sands Corporation declare that it had decided to double the amount of cash it will be spending on its projects in the city’s Cotai Strip neighborhood to around $2.2 billion and now expects the bill for the extension to the Four Seasons Tower Suites Macao to reach approximately $450 million.
Sands Cotai Central re-branding:
GGRAsia reported that the extension to the Four Seasons Tower Suites Macao is part of Sands China Limited’s ongoing redevelopment of its adjacent Sands Cotai Central integrated casino resort, which is to include the 6,000-room venue being rebranded as The Londoner Macao. The Hong Kong-listed firm purportedly expects to ramp up this project following the conclusion of early-February’s Chinese New Year holiday with phased completions following throughout 2020 and 2021.
Operator remains ‘supremely confident’:
Las Vegas Sands Corporation via Sands China Limited is moreover responsible for the enclave’s similarly grand The Venetian Macao, The Plaza Macao, Sands Macao and The Parisian Macao properties. The Nevada firm’s Chairman and Chief Executive Officer, Sheldon Adelson, reportedly stated that he remains ‘supremely confident in the future opportunity in Macau’ and expects the enlarged Four Seasons Tower Suites Macao to begin welcoming its first guests ‘in the first quarter of 2020.’
Macau growth predicted:
The source further reported that Las Vegas Sands Corporation recently declared a third-quarter net profit of $571 million, which represented an increase of 0.35% year-on-year, with its President and Chief Operating Officer, Robert Goldstein, proclaiming that he envisioned ‘growth in Macau in all segments.’
Goldstein’s statement reportedly read…
“We see our hotel rooms are knocking out numbers we never anticipated. We think there’s a demand in that market for all kinds of different things including quality hotel rooms.”