CotaiJet Service Temporarily Suspended Due to Legal Proceedings

 The Macau Intermediate Court has temporarily suspended the Las Vegas Sands' recently launched Cotai Strip CotaiJet service while the court reviews a legal challenge to the Macau government's decision which granted CotaiJet a concession to operate the high-speed ferry service between Hong Kong and Macau.

"We are confident the Macau court system will act prudently and expeditiously and that the results will serve in the best interests of the residents and visitors of Macau, Hong Kong, and the wider Pearl River Delta region," said Stephen Weaver, president of Asian Region, Las Vegas Sands Corp.

Weaver said that since the service has only been operating for a week and a half its temporary suspension would not significantly impact visitation to Macau or the company's Venetian Macau Resort Hotel, which opened in August and has averaged more than 60,000 visitors per day on weekdays and more than 100,000 visitors per day on weekends. "We are just starting to ramp up our CotaiJet operations and the real impact will be felt when we begin running multiple ferries both day and night," he said.

Weaver also added that the CotaiJet partnership with Cotai Chu Kong Shipping Management Services Co., Ltd. of Hong Kong, , is off to a great start and the two entities remain deeply committed to helping address the region's long-term transportation needs.

"During this time we will continue to retain, pay, and further train our staff so that when a resolution is reached we will be able to quickly resume CotaiJet service with the same high standards our passengers have already come to expect," said Mr. Ren Qi Sheng, chief executive officer of Cotai Chu Kong Shipping Management Services, the company which manages the ferries.

The CotaiJet service, which began running on November 30 and operates between Hong Kong's Macau Ferry Terminal at Shun Tak Centre and Macau's newly opened Taipa Temporary Ferry Terminal,temporarily suspended service at 10 am on Tuesday, December 11.

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