【英语中国】金沙中国推迟澳门新赌场开张日期

Sands China Ltd. said the opening of its $4 billion expansion project in Macau's Cotai area will be delayed because of an insufficient number of construction workers, highlighting the consequences of Macau's foreign-labor restrictions on businesses.

The Las Vegas Sands Corp. unit also said Thursday that its first-half net profit more than quadrupled from a year earlier, driven by strong gambling-revenue growth in Macau and higher margins at its casinos.

The project delay and the strong results highlight the growing importance of the Macau market to parent company Las Vegas Sands, which said last month it had swung to a profit in the second quarter largely thanks to strong growth in the Chinese territory, and also the challenges the casino operator faces doing business there.

Sands China, which was listed in Hong Kong in November, said its profit totaled $250.5 million for the six months ended June 30, up from $58.3 million a year earlier. Revenue increased 32% to $1.98 billion from $1.5 billion.

The company's focus on driving mass-market business, which is more profitable than VIP business, and its fierce expansion strategy have garnered praise from some analysts.

Sands China and rival Galaxy Entertainment Group Ltd., hamstrung by the Macau government's restrictions on foreign labor, are struggling to hire necessary construction workers to complete their enormous projects in Macau's Cotai area, already home to Sands's flagship Venetian casino resort. Sands China said Wednesday that it expects to open the first phase of its Cotai project, also known as sites five and six, by the fourth quarter of 2011, after earlier this month reiterating a third-quarter 2011 target.

'Due to matters beyond the company's control, we have faced challenges acquiring the construction labor that we need quickly enough to be able to meet our original development and opening deadlines,' the company said in a written statement. Sands China added that it will take approximately 16 months to complete the first phase of the project once the company has 'sufficient labor to ramp up our construction activity to requisite levels.'

Sands China also said the board had approved an extra $100 million for the project.

Given that acting Chief Executive Mike Leven just two weeks ago said the company has about 1,300 construction workers on site -- half of what was needed at that time -- and nowhere near the 10,000 to 11,000 workers required at the peak of construction, even a fourth-quarter opening looks optimistic.

But Sands's expansion is 'essential for Cotai,' wrote Bank of America Merrill Lynch analyst Billy Ng, adding that the additional 6,000 hotel rooms the project will bring 'can increase the supply of the lower price point hotel rooms and will help broaden the customer base to drive more traffic to casinos and retail shops in Cotai.'

Mr. Leven said earlier this month that Sands China hopes to have its new chief executive in place by the end of 2010. The company wants someone with Asia experience who is 'culturally sensitive,' he said, adding that the company wants to build a better relationship with the people and government of Macau. The Las Vegas Sands unit's aggressive expansion plans have appeared to clash with the government's calls for sustainable development.

The company Thursday said Luis Nuno Mesquita de Melo has been succeeded by Anne Maree Salt as joint company secretary, effective immediately.

沙中国有限公司（Sands China Ltd.）表示，澳门路氹地区高达40亿美元的扩张项目的开张将推迟，因为营建工人数量不足，这凸显了澳门限制企业聘用外籍劳工的后果。

金沙中国周四公布，上半年净利较上年同期增长逾三倍，受澳门博彩营收强劲增长及赌场利润率上升带动。金沙中国是拉斯韦加斯金沙集团（Las Vegas Sands Corp.）的分支。

项目拖延及获利强劲凸显澳门市场对母公司拉斯韦加斯金沙集团越发重要。上月拉斯韦加斯金沙集团公布，第二季度主要受益于中国地区的旺盛增长而扭亏为盈，但该赌场运营商在澳门经营也面临着挑战。

去年11月份在香港上市的金沙中国公布，截至6月30日的六个月总获利为2.505亿美元，而上年同期为5,830万美元。营收则由上年同期的15亿美元增长32%至19.8亿美元。

金沙中国侧重于大众市场业务，这比VIP业务获利更高，其积极扩张的策略获得一些分析师的好评。

金沙中国及竞争对手银河娱乐集团（Galaxy Entertainment Group Ltd.）因澳门政府限制外籍劳工而受到拖累，这两家公司正努力招收必要的营建工人来完成澳门路氹地区的大型项目。目前路氹地区已是金沙中国旗舰店威尼斯人度假村的总部。金沙中国周三表示，预计2011年第四季度前路氹项目第一期将开张，本月稍早该公司重申了2011年第三季度目标。

公司在书面声明中说，由于有些公司难以控制的事项，我们急需营建工人，以达到原定的开发和开张最后期限的目标。金沙中国补充说，一旦公司拥有充足的工人使营建活动达到必要的水平，将花大约16个月时间完成项目一期。

金沙中国还说，董事会已批准为该项目追加1亿美元资金。

鉴于代理首席执行长利文（Mike Leven）两周前刚说，公司在工地上约有1,300名建筑工人，仅是当时所需工人的一半，距营建高峰时所需的10,000 至11,000名工人相差甚远，因此即使第四季度开张看来也是乐观的。

美银美林（Bank of America Merrill Lynch）分析师Billy Ng说，金沙中国的扩张对路氹至关重要。他补充说，该项目再增加6,000个酒店房间可以增加低价房的供应，将帮助扩大客户群，为赌场和路氹零售店带来更多人流。

利文本月稍早称，金沙中国希望在今年年底前拥有新的首席执行长。他说，公司希望由对文化敏感、具有亚洲经验的人担任这一职位。他补充说，公司希望与澳门人民和政府建立更好的关系。金沙中国积极扩张的计划似乎与澳门政府希望可持续发展的目标相抵触。

公司周四宣布，索尔特（Anne Maree Salt）已从梅洛（Luis Nuno Mesquita de Melo）手中接任公司联合董秘一职，立即生效。