MelcoLot is citing “political uncertainties” for causing delays to it securing a casino licence in the Spanish city of Barcelona.
Source: Oliver-Bonjoch
Since the regional parliamentary elections in September 2015, Catalonia has not been able to form a government as no single political party has succeeded in securing an absolute majority of seats.
In a filing to the Hong Kong Stock Exchange, the Lawrence Ho-owned operator and developer said the delay may be due to uncertainty about urban planning with the Catalonia government.
In May 2014, MelcoLot's parent company, Melco International, signed a memorandum of understanding with Veremonte Espana that may include the management of at least one casino near Barcelona. However, in October, Melco said it would go it alone on the project “due to the lack of basis of further cooperation” with the Spanish partner.
“The timetable for conclusion of the definitive master plan is relatively uncertain at this juncture and may potentially delay finalisation and subsequently the overall timetable of the tender process,” MelcoLot said.
The company said the proposed master plan was published during the third quarter of 2015 for public consultation, this period having expired on December 1, 2015.
Source: Asia Gaming Brief
