The 13 Macau Hotel Could Play Pivotal Role in City’s Nongaming Push, New Owner Says
Posted on: June 26, 2025, 12:31h.
Last updated on: June 26, 2025, 01:02h.
- The 13 Macau’s new owner plans to refurbish the property to make it more attractive
- The 13 was envisioned as a playground for billionaires
- Macau’s gaming downturn and the COVID-19 pandemic hurt The 13’s hand
The long-troubled 13 Hotel in Macau, south of the Cotai Strip, was sold earlier this month for HK$600 million (US$76 million), considerably more than initial reports which suggested the transaction was around HK$400 million.
The $76 million purchase price is nonetheless pennies on the dollar of the $1.4 billion that was invested to construct the ultra-lavish boutique resort that was designed to cater to the highest of VIP rollers. The buyer is an entity controlled by Rio Hotel Macau owner Loi Keong Kuong.
The 13’s casino never came to fruition after Macau’s gaming industry experienced a significant downturn after VIP junket groups fled the market and fewer high rollers came to town. The COVID-19 pandemic only exacerbated the city’s troubles.
The 13, envisioned by flamboyant Hong Kong businessman and financial heir Stephen Hung, cost the once-billionaire most of his fortune. His South Shore Holdings went bankrupt, and lenders ultimately took control of the 199-room hotel.
The hotel’s future, the new ownership group says after purchasing the property at auction, could play a significant role in Macau’s efforts to diversify the Chinese Special Administrative Region (SAR). Gaming taxes remain the largest revenue stream for the local government, with about 80 cents of every dollar originating on the gaming floors.
Diversification Mission
In 2022, Macau granted its six casino licensees — Sands, Galaxy, MGM, Melco, Wynn, and SJM — fresh 10-year concessions in exchange for billions of dollars in new investment. The six gaming giants agreed to spend more than $16 billion in new amenities and updates to their resorts, with 90% required to go to nongaming projects.
The government’s goal is to make the region more attractive to nongamblers and families, similar to how Las Vegas overhauled its destination many years ago. Inside Asian Gaming reports that the new ownership of The 13 believes the lavish hotel can play a role.
Mark Wong, the real estate agent who handled The 13 transaction, told IAG that Loi is focused on refurbishing the property to make it more marketable.
The renovation will include introducing renowned restaurants from around the world, giving the property a fresh new look to attract visitors,” Wong said. “This transaction reflects the ongoing recovery of Macau’s tourism industry and the new buyer’s strong confidence in Macau and commitment to driving industrial diversification.”
The 13 is located about a mile south of the southern end of the Cotai Strip.
No Casino
When work began on The 13 over a decade ago, Hung sought to open a boutique high-roller gaming room through a partnership with one of Macau’s six gaming operators. No firm ever agreed to manage gaming at the property, and with the Macau SAR Government now reining in satellite ops, The 13’s future, whatever it might entail, almost certainly won’t include gaming.
Loi’s Rio Hotel in downtown Macau on the peninsula conducted casino gaming through a partnership with Galaxy Entertainment from 2006 until 2022 when the new concessions were awarded and satellites came under scrutiny.
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