Sands China has announced that the opening of their new resort casino in Macau will be delayed. The Parisian Macao was set to be opened in April of 2016, but the original deadline will not be met. Sands China, the Las Vegas Sands Asian Division, reported in the H1 earnings just last week that the development will not be meeting the opening target date.

The $2.7b property not making the deadline is a problem. The company is required to meet the deadline or be at risk of forfeiture of the concessions of the land underneath the resort. The Sands Cotai Central resort is also at risk. The Sands would lose the ability to operate any facility on the property and be force to book a charge to cover all or some of the $6 billion in capitalized construction costs for the resort properties.

Speaking in the Macau Daily Times, Sands China commented the company had applied to the government of Macau for an extension of the deadline. The plan is to now open the Parisian resort in the second half of next year.

 

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