Local television and radio broadcaster Teledifusão de Macau reports that the MGM Cotai casino resort, originally scheduled to open by the end of 2016, will not experience any serious delays according to an article on GGRAsia yesterday.
Co-chair and an executive director of MGM China Holdings Ltd., Pansy Catalina Ho Chiu King, reportedly was answering questions from the media on the sidelines of an event yesterday when she announced that the project was going smoothly and should open within the first quarter of next year. Some analysts have predicted the possibility of the opening creeping into the second quarter. Ms. Ho is quoted in the English language version of TDM News as saying that the exact opening date is dependent upon the government’s licensing procedures.
In other news focused on Ms. Ho, the daughter of Macau businessman and casino pioneer, Stanley Ho, and managing director of various companies her father founded, including Shun Tak Holdings and the Sociedade de Turismo e Diversões de Macau, the businesswoman has said that she may take the government to court if necessary to stop them from taking back two land plots currently held by Shun Tak Holdings on Nam Van Lake.
The government plans to rescind all 14 idle land plots near the lake when concessions expire at the end of July, according to TDM. Raimundo Arrais do Rosário, Secretariat for Transport and Public Works of Macau, has reportedly stated that all plots will be taken back and concessionaires will have no recourse to reclaim them.
Ms. Ho says that Shun Tak has been attempting to develop the land for nearly a decade but progress has been thwarted by the lack of a master-plan for the area as well as trying to protect views of World Heritage site, Penha Hill.
“We’ve still got some time. According to the new land law, it’s time for the government to decide whether or not to retrieve the land plots. As a publicly listed company, we understand and we will see if we need to make a legal decision or not to protect our rights,” she said.
Raimundo do Rosario was not swayed and reportedly responded, “You need not ask this anymore since I have said many times in the Legislative Assembly that we comply with the land law on dealing with the land grants from the past 25 years. This question has been answered lots of times,” the media outlet quoted him as saying.
The Secretary added that he’s only doing his job, according to the report, “We act on the land law which has been enacted,” he said.