Sands China gets extension for new Macao casino

Sands China Ltd said it was given more time to build a casino resort in Macao on land granted by the government of the special administrative region, and expects to pay a penalty for the delay.

The Macao government extended a deadline to develop a plot called Parcel 3 to April 17, 2016, from April 2013, Sands said in a statement to the Hong Kong Stock Exchange on Monday. The government also said the casino operator will be notified about the penalty amount for delaying the construction, according to the statement.

Construction has yet to begin on Parcel 3, which is slated for the company's biggest project after the $5 billion Cotai Central resort opened this year.