Las Vegas Sands ready to restart Macau projects
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Las Vegas Sands may be able to restart stalled construction projects in Macau and the US by the end of this year, according to the company’s Chairman and CEO, Sheldon Adelson. According to a Channel NewsAsia report, the gaming tycoon said that he may have arranged the necessary financing to relaunch two resorts in Macau, as well as projects in Las Vegas and Bethlehem , Pennsylvania .
“I just came back from Macau and we have five or six different options that we can pursue, each one of which would solve our liquidity problems,” Adelson reportedly told AFP. “The best of the options out there would provide us with sufficient liquidity that we will restart all of our projects by the end of the year,” he added.
The Macau stoppages resulted in the loss of around 11,000 construction jobs in the city. Las Vegas Sands has charted an ambitious US$12 billion construction plan on Macau ‘s Cotai Strip. If all plans are completed it will contain 11 resorts with a collective 20,000 hotel rooms.
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