The 13 Macau located south of Cotai recorded a loss of $64.89 million for the interim financial year that ended in September. Now South Shore Holding Limited, the parent company, blames lack of casino in the property for the loss.
The 13 Macau opened in September 2018, the property was built at $1.6 billion, and include a colorful 199 room and all-villa boutique. Hong Kong businessman Stephen Hung conceived the project before China started cracking down the junket group and caused Macau gaming revenue to plummet between 2013 and 296.
Macau Casino Operators
There are six licensed casinos in Macau which include: Wynn, Melco, MGM, Sands, Galaxy, and SJM. The six have integrated resorts casinos, and have also partnered with small hotels and resorts in providing gaming. However, South Shore told Casino.org that none of the six operators had shown interest in operating a casino in the 13. The company said that it had been disappointing to manage the property. In the 2019 fiscal year, the company reported that the booking rate of the hotel was just 8 percent. This is to say that only 16 out of 199 villas were occupied.
Although 13Macau have Rolls Royce phantoms that ferries guests, gaming analyst believes the venue can’t survive without a high-end casino. Cotai is an area littered with multibillion integrated resorts, and to lure high visitors, a casino is a must.
“The13 has been focusing on repositioning the business and operational model without gaming. It is now poised to capitalize on its unique ultra-luxurious theme for the establishing of the brand and market penetration to boost occupancy and holding of special events in this financial year,” the report told investors.