Local hotel developer The 13 Holdings Limited has reportedly postponed the opening of The 13 properties again and doesn't expect to begin welcoming guests to the luxury venue now.
No. 13, which cost about $1.6 billion to build, was originally scheduled to begin work on a 65,000-square-foot site near the border between Macau's Kotai and Coloan districts in July, but missed this deadline when the developer ran out of cash available. Formerly known as Louis XIII Holdings Limited until the name change, No. 13 Holdings later floated the opening date as it took steps to raise additional funds.
One of these measures reportedly saw developers launch a recapitalization program, which described savings of about $2.23.5 million by consolidating stocks and reducing exposure.
Hong Kong-listed The 13 Holdings Limited has reportedly declared it hopes to open The 13 as ‘on or before' and already holds all the necessary non-game licenses from the Macau Government Tourism Authority.
A statement from The 13 Holdings Limited reportedly said: “Both the Company and its evaluators required additional time to assess and due diligence on the 13 Hotel project, which delayed the expected timeline for rights issues.” “Hotel opening at least on a viable date.”
The 13 Holdings Limited reportedly declared that permission to operate such a location ‘must be approved by the Macau government' in response to rumours that The 13 may one day open a casino, and therefore the possibility of such a company opening remains ‘uncertain'.
