Sands China Ltd. was awarded a provisional gaming concession by the Macao SAR government on 26 November 2022, the company said. The Sands China group then signed its finalized 10-year gaming concession contract at a signing ceremony on Friday 16 December 20221.
The award covers a 10-year term. Sands China is a subsidiary of Las Vegas Sands Corp. and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). It is incorporated in the Cayman Islands with limited liability1.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands Corp. and Sands China Ltd., said:
"On behalf of Las Vegas Sands and Sands China, the entire company is both honored and eager to continue investing in Macao's development, its diversification, and its success."
Dr. Wilfred Wong, president of Sands China Ltd., said the company was grateful to the Macao government for its trust and confidence, and that it remained committed to investment in Macao1.
Sands China describes itself as the largest operator of integrated resorts in Macao. Its Cotai Strip properties are The Venetian Macao, The Plaza Macao, The Parisian Macao and The Londoner Macao, and it also owns and operates Sands Macao on the Macao peninsula. The portfolio includes meeting and convention facilities, restaurants, shopping malls, entertainment venues and the Cotai Water Jet ferry service between Hong Kong and Macao1.
The company said its tender submission in September highlighted its investment in Macao, including in non-gaming areas, and set out plans to broaden Macao's appeal as an international tourist destination. It also cited support to local small and medium enterprises, community outreach, volunteerism, charitable giving, and training and development programs for team members1.
The announcement did not state the financial terms of the concession, the fees payable, or the other bidders and their outcomes. Those details have not been reported in the material published by Sands China1.
What it means for players
The concession determines which company may operate casino gaming in Macao and for how long. Sands China's provisional award on 26 November 2022 and its finalized 10-year contract signed on 16 December 2022 cover the group's Macao properties, which are the Cotai Strip resorts and Sands Macao1.
For anyone gambling in Macao, whether a local resident, an expat or a visitor, the practical effect is continuity of operation at those specific properties under a new concession term rather than a change in the rules of play. The company's statement does not describe any change to games offered, table limits, entry requirements or player protections, and none has been reported1.
Macao's gaming regulator sets licensing and operating requirements. For background on which bodies license which operators across the region, see Gambling Regulators and Licenses in Asia: Who Licenses What and How to Check, and for the basics of gambling in the territory, see Can I Gamble in Macau?.
What happens next
The finalized 10-year concession contract was signed on 16 December 2022, following the provisional award on 26 November 20221. No further steps, start dates for the new term, or conditions attached to the concession were set out in the company's announcement1.
Sources1 sources
- Sands China Signs 10-Year Gaming Concession Contract, prnewswire.com
