The long-delayed 13 Hotel, in the planning stages since 2012, may not open this month as previously announced. In a move to stop headlines about “unlucky 13,” the board of directors of 13 Holdings Ltd. has proposed changing the name of the company to South Shore Holdings Ltd.
According to a filing to the Hong Kong Stock Exchange, the company said the name change will “provide a clear delineation between our corporate identity and that of our principal asset,” but “will not affect any of the rights of the holders of securities of the company or the company’s daily business operation and/or its financial position.”
The resort project has suffered several delays since it was first announced more than five years ago. Following the latest delay, 13 Holdings Joint Chairman and Executive Director Stephen Hung stepped down from his position and was replaced by Chairman Peter Coker.
“The team has been tremendously busy completing remaining works, installing fixtures and Equipment, and loading in furniture and operating supplies,” Coker said. “The hotel looks stunning and it is amazing to see it all finally coming together.”
He added that the targeted opening is now “the end of April 2018,” once the company has completed its financing and “returns to a solid financial position.” The company is currently trying to raise almost HK$2 billion (US$256.32 million) through a combination of funds, debt and loans to support the hotel opening.
In its filing, 13 Holdings said the casino plans to operate 66 live dealer tables including approximately 18 VIP tables. The rest will be devoted to premium mass with minimum bets “at a comparatively high level.” The casino also wants to offer around 50 high-limit slot machines and eventually, some retail operations.
“There may be substantial changes to these plans to accommodate the requirements of the Macau government,” the company added.
The casino reportedly will operate under the Melco Resorts & Entertainment license.
