Once hailed as the crown jewel of ultra-luxury hospitality in Macau, The 13 Hotel and Casino has now been listed for sale for the second time, as creditors seek to offload the unrealized dream of what was once touted as “the world’s most luxurious casino resort.” While Macau’s enduring popularity as a regional gaming hub offers substantial opportunities, rising economic uncertainty could dissuade potential buyers.
The Property Had a Troubled History
Now, just a reminder of a dream that never came to be, the 13’s red-lacquered facade and palace-like interiors serve as a testament to the perils of overambition in Asia’s leading gaming hub. Owned by banks since the collapse of South Shore Holdings, the property is being auctioned off again, with bids due by May 19.
The 13 was the brainchild of flamboyant Hong Kong businessman Stephen Hung, famous for his lavish lifestyle. In 2012, Hung unveiled plans for a $1.3 billion super-luxury casino and hotel on the edge of Macau’s Cotai Strip, promising a 199-room masterpiece of luxury with palace-like rooms, private elevators, and ornately designed European-style interiors.
However, the venue’s ambitions to attract the world’s elite never materialized. Casino operations never launched. Extravagant spending spiraled out of control. Hung’s fortune depleted, and South Shore Holdings, The 13’s parent company, ultimately fell into bankruptcy in 2023, unable to pay off its mounting debts.
A Comeback Is Not Impossible
Despite its checkered history, The 13 may be ready for a comeback. While the COVID-19 pandemic had a devastating impact on Macau’s hospitality industry, tourism numbers have rebounded. More than 35 million travelers visited the region in 2024, driven by a 29% increase in mainland China travelers, who now account for almost 70% of the total visitor count.
While the property received a renewed five-star hotel license and has benefited from restoration efforts to restore some of its former luster, its viability as a high-end leisure destination remains questionable. Although The 13 still has 150 car parking spaces, working facilities, and occupies a first-class location, its casino license is void, and its reputation for overindulgence may deter conventional investors.
Ongoing geopolitical tensions like the controversial US-China trade war present additional risks, making high-value purchases in Macau more complex. However, the property still presents significant opportunities for bold and savvy investors. The 13 could find new life as a rebranded hotel, a boutique luxury resort, or a unique lifestyle destination spearheading Macau’s diversification efforts. As long as somebody is willing to take a bet on it.