Macau officials agree to give Sands China Ltd. a 3 year extension

Jul 16, 2012 7:57 PM

Macau government officials have agreed to give Sands China Ltd., a Hong Kong-traded spinoff of Las Vegas Sands Corp. (LVS), a three-year extension to develop Parcel 3 of the Cotai Strip. But, the company will have to pay a penalty for not completing the work within the original time.

Exactly how much of a penalty will be announced at a later date, said officials.

Parcel 3 would increase Sands presence on Cotai where the $5 billion Cotai Central project is partially open.