Now that Las Vegas Sands has halted construction on the next phases of its Cotai Strip development, ripples from that decision continue to reverberate through Macau.

Last month, Galaxy Entertainment announced that the opening of its flagship casino, Galaxy Macau, on the Cotai Strip behind the Venetian will be pushed back from 2009 to 2010. The company cited several reasons, calling the decision “a tactical response to wider market conditions.”

“Construction work on Galaxy Macau continues and we have revised the development schedule to better align the opening with market conditions as they improve,” the statement said. “This is in no way a change in our strategy for Cotai. It is a commercial decision motivated by our objective to achieve a balance between development and the optimization of shareholder returns.”

The opening of City of Dreams, the Crown Melco project on the Cotai Strip, has been pushed back at least six months, now set to open in July 2009.

MGM Mirage, meanwhile, has shelved its second Macau casino indefinitely. The company, which operates a joint venture in Macau with Pansy Ho, cites the same reasons that has caused the problems with LV Sands and Galaxy.

The company has also halted several developments in the United States, including a North Strip project in Las Vegas with Kerzner International, and a “CityCenter East” development in Atlantic City.

By GGB Staff

Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.