MACAO, Dec. 17,
2022 /PRNewswire/ -- With the signing of a new
10-year gaming concession in Macao
complete, Sands China Ltd., a majority-owned subsidiary of Las
Vegas Sands Corp. (NYSE: LVS) today outlined its vision for the
company's next ten years in Macao.
"As we look to the future in Macao, we rely on the plan we have
successfully executed over the past twenty years. Sheldon Adelson's vision for what our company
would deliver for Macao was big
and bold and we are extremely proud of all that has been
accomplished," said Las Vegas Sands and Sands China Chairman and
Chief Executive Officer Robert G.
Goldstein. "With the support of the government and an
extraordinary level of commitment from Sands China, Macao has evolved into a true international
destination for leisure and business travel. We believe continued
growth in Macao is still in front
of us, and as demonstrated since we first began operating there, we
will continue supporting and investing in Macao as it solidifies its position as one of
the world's greatest tourism destinations."
During a press conference today, the company outlined both a
broad financial commitment to Macao over the next decade, as well as
highlighting some key areas of investment. The company has pledged
to spend MOP 30 billion (USD $3.75
billion) through 2032 on both capital and operating
projects, including MOP 27.8 billion (USD $
3.5 billion) in non-gaming projects that will also appeal to
international visitors.
"Sands China is confident in Macao's future and is appreciative of the
opportunity to continue working with the Macao SAR government to
support the growth of Macao's
economy, society and environment," said Sands China President Dr.
Wilfred Wong Ying Wai. "Our vision,
and the strategy we will use to guide us, will help the government
reach its important goals of continuing to grow Macao into a world centre of tourism and
leisure, promoting its economic and industrial diversification and
enhancing its international reputation."
As part of that investment, Dr. Wong said the company would
dedicate resources to several key areas, including:
A commitment to expand, improve and optimize the scale and
quality of its convention centers and related amenities. This would
include the proposed development of a new approximately 18,000
square meter MICE facility adjacent to the existing Cotai Expo,
expanding the company's footprint of inter-connected meeting space
and enabling the hosting of additional large-scale international
MICE events. In connection with these efforts, Sands will
strengthen the planning, organization and international marketing
of convention tourism in order to attract global multinational
companies to host annual meetings and corporate summits in
Macao.
The redevelopment of the existing Le
Jardin (the "Tropical Garden" on the south side of The
Londoner Macao) to create a new and internationally unique
approximately 50,000 square meter garden-themed destination. The
proposed garden-themed attraction will include an iconic
conservatory together with related themed green spaces and
amenities. The conservatory is intended to become a Macao landmark of international renown,
providing a year-round themed attraction for tourists and
residents.
An expansion of entertainment and sporting events and offerings
to grow international tourism, supported in part by a meaningful
reinvestment and upgrade of the Cotai Arena. Sands will also
develop several new restaurants and introduce innovative
international culinary concepts to support Macao's position as a city of gastronomy. The
company will also launch a luxury yacht experience featuring
on-board dining and entertainment including celebrity appearances,
as well as water sports.
Sands China has also developed
a comprehensive overseas marketing strategy and made related
investment commitments across key focus areas:
- Focus marketing expenditure in overseas markets, including
overseas media and distribution platforms
- Increasing the company's network of international sales offices
in Asia and US/Europe
- Hosting annual large-scale international business exchange
event – "Macao Showcase" – at Marina Bay Sands in Singapore to elevate the exposure of
Macao as a MICE tourism
destination
- Target international customer markets including, South Korea, Japan, India,
Southeast Asia and the US.
Growing its commitment to small and medium-size enterprises,
continuing to prioritize the hiring, training and horizontal and
upward mobility of local Macao
residents. To support that effort in particular, Sands China will
establish six new Sands China Academies focusing on MICE (Meetings,
Incentives, Conferences, Exhibitions), Hospitality, Integrated
Resort management, facilities, responsible gaming and
entertainment. The company will create an incubation center to
nurture local technology innovation and entrepreneurship.
Specific plans to promote Macao's cultural heritage include the creation
of a Macao Heritage Carnival to be hosted throughout traditional
areas of the city, facilitating trips for its patrons to
Macao's traditional areas and
hosting MICE group events at Macao's historical landmarks. Launching
innovative programs to revitalize Macao's rich cultural heritage including
partnering with local artists to hold regular performances,
exhibitions and workshops in rehabilitated buildings.
"We are eager to support Macao's growth over the next decade. Our
company is proud of our contributions during the two previous
decades of operations, and we have every confidence the future will
bring even more meaningful benefit to Macao and all who share in its success,"
concluded Dr. Wong.
About Sands (NYSE: LVS)
Sands is the world's preeminent developer and operator of
world-class Integrated Resorts.
Our iconic properties drive valuable leisure and business
tourism and deliver significant economic benefits, sustained job
creation, financial opportunities for local businesses and
community investment to help make our host regions ideal places to
live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands in
Singapore and The Venetian Macao,
The Plaza and Four Seasons Hotel Macao, The Londoner Macao, The
Parisian Macao and Sands Macao in
Macao SAR, China, through majority
ownership in Sands China Ltd.
Sands is dedicated to being a leader in corporate
responsibility, anchored by our core tenets of serving people,
planet and communities. Our ESG leadership has led to inclusion on
the Dow Jones Sustainability Indices for World and North America and recognition as one
of Fortune's World's Most Admired Companies. To learn
more, visit www.sands.com.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in
the Cayman Islands with limited
liability and is listed on The Stock Exchange of Hong Kong Limited
(HKEx: 1928). Sands China is the largest operator of
integrated resorts in Macao. The
Company's integrated resorts on the Cotai Strip comprise The
Venetian® Macao, The Plaza® Macao,
The Parisian Macao and The Londoner® Macao. The
Company also owns and operates Sands® Macao on the
Macao peninsula. The Company's
portfolio features a diversified mix of leisure and business
attractions and transportation operations, including large meeting
and convention facilities; a wide range of restaurants; shopping
malls; world-class entertainment at the Cotai Arena, The Venetian
Theatre, The Parisian Theatre, the Londoner Theatre and the Sands
Theatre; and a high-speed Cotai Water Jet ferry service between
Hong Kong and Macao. The Company's Cotai Strip portfolio has
the goal of contributing to Macao's transformation into a world centre of
tourism and leisure. Sands China
is a subsidiary of global resort developer Las Vegas Sands
Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Forward Looking
Statements
This press release contains forward-looking statements made
pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include the discussions of our business strategies and expectations
concerning future operations, margins, profitability, liquidity and
capital resources. In addition, in certain portions included in
this press release, the words "anticipates," "believes,"
"estimates," "seeks," "expects," "plans," "intends" and similar
expressions, as they relate to our company or management, are
intended to identify forward-looking statements. Although we
believe these forward-looking statements are reasonable, we cannot
assure you any forward-looking statements will prove to be correct.
Forward-looking statements involve a number of risks, uncertainties
or other factors beyond the company's control, which may cause
material differences in actual results, performance or other
expectations. These factors include, but are not limited to: the
uncertainty of the extent, duration and effects of the COVID-19
pandemic and the response of governments and other third parties,
including government-mandated property closures, vaccine mandates,
regular testing requirements, other increased operational
regulatory requirements or travel restrictions, on our business,
results of operations, cash flows, liquidity and development
prospects; risks relating to our current subconcession and the new
concession, amendments to Macao's
gaming laws; general economic conditions; disruptions or reductions
in travel and our operations due to natural or man-made disasters,
pandemics, epidemics, or outbreaks of infectious or contagious
diseases; our ability to invest in future growth opportunities,
execute our previously announced capital expenditure programs in
Singapore, and produce future
returns; new development, construction and ventures; government
regulation; the extent to which the laws and regulations of
mainland China become applicable
to our operations in Macao and
Hong Kong; the possibility that
economic, political and legal developments in Macao adversely affect our Macao operations, or that there is a change in
the manner in which regulatory oversight is conducted in
Macao; our subsidiaries' ability
to make distribution payments to us; substantial leverage and debt
service; fluctuations in currency exchange rates and interest
rates; our ability to collect gaming receivables; win rates for our
gaming operations; risk of fraud and cheating; competition; tax law
changes; political instability, civil unrest, terrorist acts or
war; legalization of gaming; insurance; the collectability of our
outstanding loans receivable; limitations on the transfers of cash
to and from our subsidiaries; limitations of the pataca exchange
markets; restrictions on the export of the renminbi; legal
proceedings, judgments or settlements that may be instituted in
connection with the sale of our Las
Vegas real property and operations; our ability to continue
to have our securities traded in the U.S. securities market; and
other factors detailed in the reports filed by Las Vegas Sands
Corp. with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date thereof. Las Vegas
Sands Corp. assumes no obligation to update such statements and
information.
Media contacts:
Corporate Communications, Venetian Macau Limited
Mabel Wu
Tel: +853 8118 2268
Email: mabel.wu@sands.com.mo
Jesse Chiang
Tel: +853 8118 2054
Email: jesse.chiang@sands.com.mo
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SOURCE Sands China Ltd.