October 23, 2014
LAS VEGAS (AP) - A top Las Vegas Sands Corp. executive says the company hopes to resume building its stalled resorts in the Chinese gambling enclave of Macau later this year.
Sands Asia operations president Stephen Weaver told reporters in Hong Kong the company is in early discussions with possible investors about financing the multibillion-dollar projects along Macau's Cotai Strip.
Weaver isn't identifying the potential investors. But the company previously said they include two construction companies interested in financing and building the projects in exchange for equity.
Sands stopped construction on hotel towers and three casinos in November. It cited the global credit crisis and tumbling revenues.
As many as 11,000 workers were laid off, including those
employed by contractors and subcontractors.
The company says it could cost another $2 billion to finish the Macau sites.
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