Tender submission highlighted company's
continuous investment in Macao
MACAO,
China, Nov. 26, 2022 /PRNewswire/ -- The Sands
China group has been awarded a new 10-year gaming concession in
Macao, as announced by the
Macao government Saturday. The
concession is awarded on a provisional basis, subject to finalizing
and entering into a new gaming concession contract with the Macao
SAR.
Robert G. Goldstein, the chairman
and chief executive officer of Sands China Ltd. (HKEx: 1928) and
its parent company Las Vegas Sands Corp. (NYSE: LVS), said: "Our
commitment to Macao has never
wavered and we are honoured to continue the partnership we began
with the government and people of Macao 20 years ago. In the coming decade and
beyond, we will remain steadfast in our strategy of continuous
investment in Macao – in its
economy, its people and its community. Macao's future as an international tourism
destination remains bright and we look forward to furthering our
leadership role in helping it reach its full potential."
Dr. Wilfred Wong, president of
Sands China Ltd., remarked: "The entire company is elated at the
news of our successful bid for a new 10-year gaming concession. We
are grateful to each of our 25,000 team members for their tireless
support and dedication. Our gratitude also goes to the tender
committee for its meticulous and thoughtful consideration of the
tender submissions. We will do our utmost to further contribute to
Macao's economic diversification
and its continuing development into a world-class international
tourism destination."
Sands China's tender submission
in September highlighted the company's unprecedented level of
investment in Macao, particularly
in the area of non-gaming tourism amenities and attractions. It
also detailed Sands China's plans to help broaden the appeal of
Macao as an international tourist
destination.
Other highlights of the submission included a summary of Sands
China's industry-leading programmes for assisting and supporting
local SMEs, the strong community outreach of the Sands Cares
Ambassador volunteer programme, the company's robust charitable
giving programme, and the award-winning training and development
programmes that have nurtured team members to gain new skills and
advance their careers.
Additionally, Sands China plans to strengthen many of its
longstanding local talent development initiatives, including
expanding the offerings of the Sands China Academy – aimed at
creating additional opportunities for upward career mobility and
further increasing the percentage of locals in management
positions, which currently stands at over 90 per cent.
Dr. Wong added: "Sands China is thankful for the guidance of the
Macao SAR government over the past 20 years and looks forward to
being part of this next exciting chapter in Macao's history in the next decade and beyond.
We are honoured to have the opportunity to continue contributing to
Macao's integration into the
overall development of the nation, investing in non-gaming, and to
helping strengthen and promote Macao as the ultimate destination for both
leisure and business travellers."
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. In addition, in certain portions included in this press
release, the words "will," "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 the grant of any new concession in
Macao and 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 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; substantial
leverage and debt service; benchmark interest rate transitions for
some of our debt instruments; 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;
and other factors detailed in the reports filed by Sands China Ltd.
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. Sands China Ltd. 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.