Sands China Presents its Vision and Investment for the Next Decade in Macao Company Believes in Long-Term Growth of Macao
MACAO,Dec. 17, 2022/PRNewswire/ -- With the signing of a new 10-year gaming concession inMacaocomplete, 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 inMacao.
"As we look to the future inMacao, we rely on the plan we have successfully executed over the past twenty years.Sheldon Adelson'svision for what our company would deliver forMacaowas 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 OfficerRobert G. Goldstein. "With the support of the government and an extraordinary level of commitment from Sands China,Macaohas evolved into a true international destination for leisure and business travel. We believe continued growth inMacaois still in front of us, and as demonstrated since we first began operating there, we will continue supporting and investing inMacaoas 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 toMacaoover 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 inMacao'sfuture and is appreciative of the opportunity to continue working with the Macao SAR government to support the growth ofMacao'seconomy, 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 growMacaointo 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:
承诺扩大,改善和优化cale 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 existingLe 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 aMacaolandmark 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 supportMacao's作为一个城市的美食。该公司将also launch a luxury yacht experience featuring on-board dining and entertainment including celebrity appearances, as well as water sports.
SandsChinahas 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 inAsiaand US/Europe
- Hosting annual large-scale international business exchange event – "Macao Showcase" – at Marina Bay Sands inSingaporeto elevate the exposure ofMacaoas a MICE tourism destination
- Target international customer markets including,South Korea,Japan,India,Southeast Asiaand the US.
Growing its commitment to small and medium-size enterprises, continuing to prioritize the hiring, training and horizontal and upward mobility of localMacaoresidents. 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 promoteMacao'scultural heritage include the creation of a Macao Heritage Carnival to be hosted throughout traditional areas of the city, facilitating trips for its patrons toMacao'straditional areas and hosting MICE group events atMacao'shistorical landmarks. Launching innovative programs to revitalizeMacao'srich cultural heritage including partnering with local artists to hold regular performances, exhibitions and workshops in rehabilitated buildings.
"We are eager to supportMacao'sgrowth 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 toMacaoand all who share in its success," concluded Dr. Wong.
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 includesMarina Bay SandsinSingaporeandThe Venetian Macao,The PlazaandFour Seasons Hotel Macao,The Londoner Macao,The Parisian MacaoandSandsMacaoin Macao SAR,China, through majority ownership inSands 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 andNorth America和认可的Fortune'sWorld's Most Admired Companies. To learn more, visitwww.sands.com.
Sands China Ltd. (Sands China or the Company) is incorporated in theCayman Islandswith limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts inMacao. 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 theMacaopeninsula. 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 betweenHong KongandMacao. The Company's Cotai Strip portfolio has the goal of contributing toMacao'stransformation into a world centre of tourism and leisure. SandsChinais a subsidiary of global resort developerLas Vegas Sands Corp.(NYSE:LVS).
For more information, please visitwww.sandschina.com.
本新闻稿包含前瞻性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 toMacao'sgaming 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 inSingapore,产生的未来收益;新的发展,反对struction and ventures; government regulation; the extent to which the laws and regulations of mainlandChinabecome applicable to our operations inMacaoandHong Kong; the possibility that economic, political and legal developments inMacaoadversely affect ourMacaooperations, or that there is a change in the manner in which regulatory oversight is conducted inMacao; 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 ourLas Vegasreal 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:[email protected]
Jesse Chiang
Tel: +853 8118 2054
Email:[email protected]
SOURCE Sands China Ltd.
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