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City of Dreams Construction Stopped?

Here's an interesting little blurb, buried in the middle of a news report about OFW's (Overseas Filipino Workers) being laid off from construction sites in Macau:

"Numerous casinos and hotels are cutting down on their operating cost and OFWs were the first to be retrenched because they were receiving higher salaries than the local workers," a recruitment leader said.

Edwin Saldaņa, a Filipino worker who has been staying in Macau for the past eight years, said about 300 Filipino construction workers were laid off two weeks ago.

Saldaņa said the OFWs were back home after the construction of the "City of Dreams," a four-building casino-hotel complex, was stopped.


Bloomberg reported a few weeks ago that James Packer stated City of Dreams will open "on time" - sometime in the first half of 2009. Either they're trimming construction forces as the project nears completion or there's something else going on here.


Comments & Discussion:

Oh crap! There goes the stock price. COD is all we had to look forward too.

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