Sands Wins Extension on Macau Casino After Delay Penalty
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Sands China Ltd. said it was given more time to build a casino resort in Macau on land granted by the government and expects to pay a penalty for the delay.
The Macau government extended a deadline to develop a plot called Parcel 3 to April 17, 2016, from April 2013, Sands said in a statement to the Hong Kong Stock Exchange today. The government also said the casino operator will be notified about the penalty amount for delaying the construction, according to the statement.