Union Gaming Securities Asia Ltd. announced in a note that the launch of the long-awaited hotel project The 13 may be postponed. The casino, known as the location in Macau, is also expected to open to the public in early 2018.

Investment analyst Grant Govsen attributed the launch delay to the fact that it could take time to restart projects that have been effectively suspended. The hotel is located on the border of Macau’s Kotai and Coloan areas and has experienced some delays in the construction process. Thirteen Holdings submitted an interim report in December, with property development on track and expected to begin operations in the first quarter of 2017. At the end of March, the company announced that the property’s opening date would be announced later this year.

According to Govsen, the promoter of the plan, The 13 Holding announced annual results equivalent to additional delays in relation to the company’s casino project opening in Macau. As a result, the company showed evidence that its current liabilities exceeded its assets by HK$300 million ($38.5 million) as of March 31. Moreover, the holdings contracted a total of HK$369 million in capital commitments not provided in the consolidated results. 온라인카지노사이트

In an earlier statement, 13 Holdings said the company would have to pay more than US$7 million on average to build a single room. More than US$1.4 billion will have to be spent to complete all the rooms in the building. According to The 13’s project description, it will be a villa hotel with a total of 200 accommodations. Union Gaming also showed that there was a funding gap in the project through its annual results, adding that it has not yet been resolved so that construction can continue.

The group also added that it needs to improve the group’s liquidity and that directors are negotiating to do so. According to them, they will have enough operating capital to fund operations and boost projects. The company also added that some of the potential improvements that could be made in this situation would be to find new sources of funding in the form of debt or capital. At the moment, the holding company is not disclosing the amount of funding it needs, but Union Gaming suggests that debt can be very expensive.

By: totogamePosted on Categories : Categories : Uncategorized

51 Replies to “13 Holdings May Delay Launch Of New Casino In 2018”

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