Deals
Casino Hotel Aimed at China's Ultra Rich Is Struggling to Open
- Ex-investment banker Stephen Hung drew Fidelity, Janus, SAC
- $1,500-a-night Macau hotel delayed, casino’s fate uncertain
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It’s due to feature $1,500-a-night French Baroque suites with marble Roman baths for eight, and 30 custom red Rolls Royces to squire around its guests -- all part of what’s promised to be the world’s most luxurious casino and hotel aimed at China’s ultra rich.
Yet The 13 Hotel stands empty in a sleepy corner of Macau while its owners seek more cash and the necessary permits to operate -- not to mention an elusive license to open a casino. After missing a crucial creditor’s deadline this week, the red tower standing a short drive from the Cotai Strip remains blocked by construction materials, with no plans to open until late this year.