The Macau government has rejected Sands China's application for a land concession for two parcels of land on the Cotai Strip, potentially damaging its plans to develop new projects in the enclave.
The company, which operates the Sands Macao, The Venetian and the Four Seasons, said it received a letter yesterday from the Government of Macau informing it that its application had been denied.
It now has 15 days to apply to the chief executive of Macau for a review of the decision and a month to appeal the decision in the Chinese enclave’s courts.
The company said it is "considering all options" available to it.
Trading in the company’s shares was suspended yesterday pending the announcement and was resumed earlier today. Shares were down when trading began again.
