Sands China Ltd. signed its finalized 10-year gaming concession contract with the Macao SAR government at a signing ceremony on Friday, Dec. 16, 2022, the company said1. The signing followed the award of a provisional concession by the Macao SAR government on Nov. 261.
Sands China is a subsidiary of Las Vegas Sands Corp. and is listed on The Stock Exchange of Hong Kong Limited under the ticker HKEx: 19281. It is incorporated in the Cayman Islands with limited liability and describes itself as the largest operator of integrated resorts in Macao1. 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 peninsula1.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands Corp. and Sands China Ltd., said:
"On behalf of Las Vegas 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 creating diversified non-gaming offerings, cultivating local talent and supporting local SMEs1. The company said its tender submission in September highlighted its investment in Macao, including in non-gaming areas, and set out plans to help broaden Macao's appeal as an international tourist destination1. It also cited support to local SMEs, community outreach, volunteerism and charitable giving, and training and development programs for team members1.
The announcement did not state the contract's start date, its expiry date, the fees payable, or the terms covering table games and slot machines. Those details have not been reported in the announcement1. The announcement also did not name the other operators that signed contracts, or say whether any had1.
What it means for players
The concession is the license under which Sands China operates its Macao casinos, so the signing confirms that its properties on the Cotai Strip and on the Macao peninsula continue to hold a valid concession for a 10-year term1. For anyone gambling in Macao, the practical effect is continuity of the venues named in the announcement rather than any change to how play works1. The announcement gives no information on floor capacity, game mix, table minimums, or any change to the rules of play, and none of that has been reported1. The company's stated plans for non-gaming offerings, local talent and local SME support concern its wider resort business rather than gambling itself1. Background on how Macao's licensing has developed is set out in the history of gambling in Macau, and the general framework for who licenses what in the region is covered in gambling regulators and licenses in Asia. For the basics of gambling in the territory, see can I gamble in Macau.
What happens next
The announcement states only that the finalized contract was signed on Dec. 16, 2022, following the provisional concession awarded on Nov. 261. It does not set out any further steps, dates or conditions, and none have been reported1.
Sources1 sources
- Sands China Signs 10-Year Gaming Concession Contract, prnewswire.com
