The 13 casino pushes opening to 2019
The 13 Holdings has announced that it will delay the opening of The 13 casino until March 31, 2019 in order to attract new investors.
Macau.- The 13 Holdings Ltd has pushed back the launch of its Macau project, The 13, until March 31, 2019, as reported to the Hong Kong Stock Exchange. According to the filing, the decision was made in order to attract new investment for the development before opening.
The company has revealed it needs to raise an additional €101.1 million to complete the hotel’s construction as it has been continuously delayed due to financial problems. It expects to receive new investors on-board through a new rights issue.
Not only has the project had financial setbacks, but it also saw founder Stephen Hung walk away last month, resigning all his positions and selling his related holdings. This added up to uncertainty around the casino licence being awarded by Macau authorities.
The casino is expected to house 66 gaming tables with minimum bets set at a comparatively high level and around 50 high-limit slot machines. However, it’s yet to be seen if the development will get what it needs to finally be completed and open.
