Sands to Complete Macau Projects in 2011

Las Vegas Sands Corp. Chairman Sheldon Adelson Monday said he expects to restart construction on the casino operator's delayed resort projects in Macau in about five months, with the first two phases of the project to be completed by the end of 2011, The Wall Street Journal reported. Construction of the project was halted in November last year due to a lack of funding during the credit crunch. The new target underscores Sands' renewed ambitions in Macau, the world's biggest casino growth market and the only place in China where gambling is legal. Still, shares of the company's Macau unit, Sands China Ltd., fell 5.9% Monday to 9.23 Hong Kong dollars a shares. The new shares have been plagued by concerns about valuation and debt since their initial public offering last month, at which the shares fell 10%. Read more. (Subscription required.)