82


Gaming


Land battle


SJM wants two parcels of land in Cotai that are earmarked for Sands China. Sands’ boss Sheldon Adelson is not worried


for Sands China has been waived off by Sands’ boss Sheldon Adelson. “Wishful thinking goes on every-


A


where,” Mr Adelson replied when asked about the matter at a CLSA investors’ conference in Hong Kong last month. SJM has already made a formal ap- proach to the government to express its


OCTOBER 2010


play by Sociedade de Jogos de Macau (SJM) to develop two parcels of land in Cotai reserved


interest in parcels seven and eight but the land has been unoffi cially reserved for Sands China. Sands expects the govern- ment to grant it the parcels. “We hope to have a larger space


for development,” SJM’s chief execu- tive, Ambrose So Shu Fai, told reporters. “SJM has the least exposure in Cotai, so we’ve said that if there is other land avail- able we’ll be interested in it.” SJM applied for two other parcels in


Cotai in 2007 but is waiting for a deci- sion from the government. Mr So said his company was hoping to get an answer this year. Sands China has said it has received


no offi cial notice of SJM’s interest and is prepared to defend its toehold on the land.


Fair shares It is not unusual in Macau for the gov- ernment to reach ad hoc agreements


Photo: Luís Almoster | mspagency.org


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