The 13 Holdings has announced a revised opening date for its “ultra-luxury” Macau resort of “on or before” March 31, 2018. The new opening date follows the announcement of a rights issue of the company’s shares, amounting to nearly HKD1 billion.
Inside Asian Gaming reported yesterday on a filing to the Hong Kong Stock Exchange where the company said it would use the proceeds from the rights issue to complete the project. The proceeds are expected to increase the share capital of the company by 50 percent.
The resort, developed by Hong Kong tycoon Stephen Hung, has faced several setbacks in recent years concerning its financing and ability to compete in what is considered by some to be a poor regulatory environment.
Hung is marketing the resort as an “ultra-luxury” property, most notably through the purchase of a fleet of 30 custom Rolls-Royce Phantoms, representing the largest single order in Rolls-Royce history.
The property’s name, The 13, is an abbreviation of the 17th century French King Louis XIII. It had originally been scheduled to open in the first quarter of 2017.
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