The 13 to launch in 2018

The Macau hotel that could include a casino is set to push its opening date to early 2018.

Macau.- A note from Union Gaming Securities Asia ltd revealed that the launch of hotel project called The 13, that analysts claim that could include a casino, could be pushed to early 2018 due to some delays.

Analyst Grant Govertsen said that the push could be due to the time that it takes to restart a stalled project, as GGRAsia revealed. “Within its annual results last week, [it] announced what amounts to further delays with respect to the opening of the company’s casino project in Macau,” said Govertsen. Union Gaming said that under the assumption that the company is able to raise sufficient capital, they would not be surprised if the opening were to slip into early 2018 given the time-consuming process of restarting what has become a stalled project. “A material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern,” said the filling.

“While not disclosing the magnitude of funding needed we believe it is material and likely to be very expensive in the case of debt… and/or very dilutive in the case of additional equity,” added Union Gaming.