June 5, 2013 / 4:25 AM / 5 years ago

Sands China gets approval to sell shares in Macau property

HONG KONG, June 5 (Reuters) - Sands China Ltd, the Macau casino controlled by U.S. billionaire Sheldon Adelson, has received approval to transfer land rights for an apartment-hotel tower, allowing the company to sell shares in the property.

Sands China announced the approval on Wednesday in a statement to the Hong Kong stock exchange. The company has been trying since 2008 to make money from the apartment-hotel tower, which is located on the Cotai strip in the world’s largest gambling center.

The agreement allows the casino operator to sell shares in the property to buyers purchasing co-op units.

Reporting by Farah Master; Editing by Matt Driskill

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