Sands China Signs 10-Year Gaming Concession Contract

The Sands China group signed its finalised 10-year gaming concession contract Friday at a signing ceremony, after having been awarded a provisional concession by the Macao SAR government on Nov. 26.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands Corp. (NYSE: LVS) and Sands China Ltd. (HKEx: 1928), said: “On behalf of Las Vegas Sands and Sands China, the entire company is both honoured and eager to continue investing in Macao’s development, its diversification, and its success. We look ahead today with the same confidence and enthusiasm in Macao’s future that our founder Sheldon G. Adelson did two decades ago when he committed himself to the vision of the Cotai Strip. We are thankful for the continued trust of the Macao SAR government, for the spirit of service and excellence of our team members, and for the opportunity to participate in the success of one of the world’s most unique leisure and business tourism destinations.”

Dr. Wilfred Wong, president of Sands China Ltd., said: “Sands China is grateful to the Macao government for their trust and confidence in us to continue contributing to Macao’s community, economy, and tourism industry – and we likewise reciprocate our trust and confidence in the guidance of the central and SAR governments, and in the future of Macao. We are excited and honoured to carry forward together with all stakeholders in supporting Macao’s growth as a world centre of tourism and leisure, and to support and strengthen Macao’s role in the Greater Bay Area. Whether in creating diversified non-gaming offerings, cultivating local talent, or supporting local SMEs, we remain committed and confident in our investment in Macao and in its future.”

Sands China’s tender submission in September highlighted the company’s unprecedented level of investment in Macao, including in non-gaming areas, and detailed the company’s plans to help broaden Macao’s appeal as an international tourist destination. Other highlights included Sands China’s support to local SMEs; its community outreach, volunteerism, and charitable giving; and its training and development programmes for team members.
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