Singapore Sands Casino Opening is Delayed Says Sheldon Adelson

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Created on Wednesday, 08 July 2009 09:24

Sands Head Honcho Sheldon Adelson said the opening of the company's $5.5 billion Singapore super casino and resort complex will be pushed back to the beginning of 2010 as the company is experiencing problems with building material supplies.

The Marina Bay Sands, one of several casinos under construction in Singapore, will now open its doors in Jan or Feb 2010, Adelson stated- a delay of 1 or 2 months.

"We can't get enough sand to make the cement, steel is hard to come by and the labour markey is tough," he added at a press briefing in the Lion City.

The Singapore casinoplex was one of the few new gambling palaces that Sands has continued to build after the corporation suffered cashflow problems during the credit crisis. It had ordered workers to lay down their tools on a new Macau casino and sacked around eleven thousand construction workers in the former Portuguese colony. The news has come as a blow to Singapore, which is suffering its worst downturn for years - the city state is pinning it s hopes on the casino pulling in lots of tourist dollars.

"Our performance in June was much better than we had anticipated," Adelson said. "Our forecast going forward has been adjusted north too."

Las Vegas Sands (LVS -stock ticker) owns the Sands Macau, Venetian Macau and Sands Casino Resort Bethlehem in Pennsylvania.