The proposal emphasizes a commitment to new investments in Macau over the next decade and highlights the track record of supporting team members, local small businesses and the Macau Community
LA VEGAS, September 14, 2022 /PRNewswire/ — Las Vegas Sands Corp. (NYSE: LVS) and Sands China Ltd. today announced the submission of Sands China Group’s application for a new 10-year gaming concession in Macau. The tender submission underscores both the unprecedented level of investment that Sands China has made in Macauespecially in non-gaming tourist amenities and attractions, as well as the organization’s detailed plans to continue to help expand from Macau appeal as an international tourist destination.
“No one has been a greater believer in from Macau long-term success as a leisure and business tourist destination that we have. Investments in our world-class assets, our team members and the local community demonstrate our global commitment to Macau and this RFP reiterates our longstanding strategy of continued investment in Macau“, said the president and CEO of Las Vegas Sands and Sands China Robert G. Goldstein. “On behalf of our 25,000 team members Macausenior management, our Boards of Directors and the Adelson family, we are honored to have applied and look forward to continuing the wonderful partnership we have had with the people of Macau over the past two decades.”
“The entrepreneurial vision of our founder, Sheldon G. Adelsoncombined with government leadership and the dedication of our team members, has helped lead a remarkable transformation of Macau over the past twenty years. Over the next decade, we hope to play a leading role in helping Macau attracting more tourists from more parts of the world and continuing its efforts to be recognized as a global center for tourism and leisure,” said Chairman and Executive Director of Sands China, Dr. Wilfred Wong Ying Wai.
Dr Wong said the submission summarized the organization’s industry-leading programs dedicated to helping and supporting small and medium-sized businesses, as well as the strong community outreach achieved through Sands Cares Ambassadors and a donations program. robust charities and award-winning training and development. programs that have provided Sands China team members with opportunities to develop new skills and advance their careers.
Goldstein said the company plans to continue many of its longstanding local talent development initiatives, including plans to expand its Sands China Academy offerings. He said these efforts will create even greater job mobility opportunities and further increase the percentage of locals in leadership positions. Additionally, Mr. Goldstein said the company is dedicated to helping Macau achieve its tourism and economic diversification objectives.
“Our goals have always been aligned with the government when it comes to developing the scale of amenities Macau necessary to become an essential international tourist destination. We have made unrivaled commitments to offer world-class shopping and dining and have quickly become the market leader in MICE (meetings, incentives, conferences, exhibitions) and live entertainment. Macau is still in the early stages of establishing itself as an international tourist destination and we believe we can continue to make a significant contribution to this effort by developing these important drivers of tourism,” Mr. Goldstein said.
The company also announced that Dave Sun MinQi, who has served as Sands China’s chief financial officer since 2017 and has been with the company since 2007, has been offered to also act as the future managing director of Venetian Macau Limited. In addition, Grant Chum Kwan Lockwho is chief operating officer and member of the board of directors of Sands China, also assumes the role of executive vice president of Asia operations for Las Vegas Sands. In this role, Mr. Chum will work across all Company properties in Macau and Marina Bay Sands in Singapore. He will also lead strategies to increase foreign visits to company premises. Macau properties, as well as creating greater synergies between the two markets, particularly in live entertainment, MICE, luxury retail and other non-gaming lifestyle attractions.
“Sands China has an unwavering commitment to the long-term success of Macau as from Asia leading destination for leisure and business tourism. We have a formidable management team, the majority of whom are local residents, with extensive experience in developing and operating the largest integrated resorts in Asia. With the right strategy and the right team in place, we couldn’t be more excited about our future in Macau“, Mr. Goldstein concluded.
Sands is the world’s largest developer and operator of world-class integrated resorts.
Our iconic properties generate valuable leisure and business tourism and provide 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’ property portfolio includes Marina Bay Sands in Singapore and The Venetian Macau, The place and Four Seasons Hotel Macau, The Macau Londoner, Parisian Macau and sands Macau in the Macao SAR, Chinathrough a majority stake in China Sands Ltd.
Sands is dedicated to being a leader in corporate responsibility, anchored by our core principles of service to people, planet and communities. Our ESG leadership has led to inclusion in the Dow Jones Sustainability Indices for the World and North America and recognition as one of The wealth The World’s Most Admired Companies. To learn more, visit www.sands.com.
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 discussions of our business strategies and our expectations regarding future operations. Additionally, in certain portions included in this press release, the words: “believe”, “plan”, “hope” and similar expressions, to the extent that they relate to our company or our management, are intended to identify forward-looking statements. Although we believe these forward-looking statements are reasonable, we cannot assure you that they will prove to be accurate. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause actual results, performance or other expectations to differ materially. These factors include, but are not limited to: uncertainty about the extent, duration and effects of the COVID-19 pandemic and the response of governments and other third parties, including mandated property closures by the government, vaccination mandates, regular testing requirements, other increased operational regulatory requirements or travel restrictions, on our business, results of operations, cash flow, liquidity and development prospects ; risks relating to our gaming license and sublicense, including the extension of our sublicense in Macau which expires on December 31, 2022the granting of any new concession in Macau and amendments to from Macau 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 Macau, and produce future returns; new developments, constructions and businesses; government regulations; the ability of our subsidiaries to make distribution payments to us; substantial leverage and debt servicing; benchmark interest rate transitions for certain of our debt securities; fluctuations in currency exchange rates and interest rates; our ability to collect gambling receivables; win rates for our gaming operations; risk of fraud and cheating; competition; changes in tax legislation; political instability, civil unrest, terrorist acts or war; legalization of gambling; Insurance; the collectability of our outstanding loans; and other factors detailed in 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.
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