Cotai Strip development plans reportedly rejected in Macau
Macau has reportedly rejected development plans for two sites on the Cotai Strip offered by the casino company operated by Hong Kong billionaire Stanley Ho, which had been trying to grab control of the land parcels from Las Vegas Sands Corp.
Earlier this month, the Macau government rejected Las Vegas Sands’ plans to build hotel-casinos on the sites. The company, which operates The Venetian Macau and Sands Macau, restarted construction this year on two other Cotai Strip land sites, which are expected to accommodate 6,400 hotel rooms spread among five properties.
Press reports out of Hong Kong said the two land parcels are now up for grabs.
A spokeswoman in Macau’s land department told The Wall Street Journal the division had rejected the development proposals from Las Vegas Sands and SJM Holdings, which operates 18 casino in Macau, including the Grand Lisboa and smaller gambling facilities.
A Las Vegas Sands spokesman declined comment on the SJM rejection.