Marina Bay Sands, Singapore's second casino complex, is scheduled to open on April 27. It is now being completed by US-based Las Vegas Sands Corp (LVS). Singapore welcomed 9.7 million visitors last year, down 4.3% from 2008, as the global recession hit travel demand, but arrivals have begun to pick up. There were 908,000 visitors in January, up 17.6% from a year ago.
HONG KONG (Dow Jones)--Sands China Ltd. (1928.HK), the Macau unit of casino operator Las Vegas Sands Corp. (LVS), postponed a news conference for a signing ceremony with contractors to restart construction of its massive casino expansion project in Cotai. The postponement raises the possibility the project could face further delays after construction was halted in 2008 at the height of the financial crisis. The company said in a statement Sunday it would provide more details on the postponement "in due course." It declined to give further details when contacted by Dow Jones Newswires on Monday.
The postponement comes amid speculation among analysts that the Macau government has been reluctant to offer substantial quotas to construction companies to employ workers from China as local workers have criticized the government for importing too much foreign labor, contributing to unemployment.
In a recent report, Credit Suisse said the Macau government's labor policy could affect the construction schedule of Sands China's expansion project, noting 10,000 construction workers were previously working on the project and less than 50% of them were from Macau. In February, Sands China President Steve Jacobs rejected media reports that the Macau government had denied the company's request to import labor. Earlier this month, Sands China said it planned to "get into high levels of actual construction" of its casino and hotel expansion project in Cotai in March. The project will be home to the world's biggest casino as well as Shangri-La, Traders and Sheraton hotels. The company said at the time it targeted a July 2011 completion date for the project.
