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September 26, 2021

USD 2.7B integrated resort to open by November 2016

Parisian Macao extends construction by 7 months

Parisian Macao extends construction by 7 months
Sands China has received approval from the Macau government to extend its construction on the Parisian Macao by seven months.
Macau | 02/26/2016

Sands China has received approval from the Macau government to extend its construction on the Parisian Macao by seven months.

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ccording to a statement by the Land, Public Works and Transport Bureau on Monday, the USD 2.7B integrated resort is now scheduled to open by November 2016.

 

When the property finally opens at the end of the year, the total investment would reach some USD 13B.

 

Local authorities were notified by the company last May that an April 2016 deadline to complete the Parisian would not be met. Sheldon Adelson, Las Vegas Sands CEO, announced after a conference call releasing 2015 financial results that the company was now targeting a September opening for the new property and would consider a partial launch.

During the discussion, Adelson noted the Parisian would “replicate the success” of the iconic Venetian Macao on the Cotai Strip and aims to expand “the overall business and leisure tourism appeal of Macau” by becoming a focal point for visitors to the city. When the property finally opens at the end of the year, the total investment would reach some USD 13B.

The Parisian Macao is one of several new facilities being developed on the Cotai Strip targeted to the growing mass-market segment with a large investment in non-gaming amenities. The project will house a 3,000-room hotel with a state-of-the-art casino and the company still in negotiations with over the number of tables included. It will also feature a scale-replica of the Eiffel Tower and walkway bridge that connects to Sands Cotai Central.

 

 

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