To the superstitious, the number 13 is unlucky. It has even made such an impact that, around the world, hotels and high-rises don’t even have a floor 13, skipping from 12 to 14. Since gamblers are historically a superstitious group, it doesn’t make a lot of sense that a casino would want to call itself “13.” However, that’s what is going on in Macau, and the bad luck associated with the number seems to be holding up.
The group behind the casino, The 13 Holdings Ltd., had initially anticipated a launch date of March 31 for its hotel operations. This was then pushed back to April 30. Now, the new—and possibly temporary—target date has once again changed, with the new target being June 30.
The delays, according to company officials, are due to “unexpected time required for mobilizing certain contractors, suppliers and vendors.” In a regulatory filing, the casino operator said it anticipates being able to complete the remainder of the pending tasks, which include construction and installation of fixtures and equipment, by the middle of May. Subsequent to the completion of the project, the casino would still need the blessing of the Macao Government Tourism Office before it could open its doors.
The delays are more likely due to a lack of funds than from construction delays. 13 has repeatedly looked to raise more capital, and recently entered a convoluted deal with a few offshore firms, and sold shares worth around $38.2 million. In that deal, the shares, which were held by The 13 (BVI) Ltd, were sold to Paul Y. Engineering Group Ltd., who has now become a minor partner in the organization.
The hotel itself has already been a financial headache.The total was expected to be around $490 million, but recent work order changes tacked on an additional $177 million. If not for the recent deal, 13 may not have been able to proceed with the construction.
The upcoming, and uncertain, launch only covers the hotel portion of the resort. The gambling facilities aren’t expected to be in place until the end of March next year. However, 13 has yet to receive approval by the Macau government to add casino operations. Even after getting the approval, it would still need to work with another casino operator, such as Melco Resorts, to be able to offer gambling. With the bad luck 13 has been experiencing, casino operators may be a little too superstitious to get involved.
