MACAO, Dec. 16,
2022 /PRNewswire/ -- The Sands China group
signed its finalised 10-year gaming concession contract Friday at a
signing ceremony, after having been awarded a provisional
concession by the Macao SAR government on Nov. 26.
Robert G. Goldstein, chairman and
chief executive officer of Las Vegas Sands Corp. (NYSE: LVS) and
Sands China Ltd. (HKEx: 1928), said: "On behalf of Las Vegas Sands
and Sands China, the entire company is both honoured and eager to
continue investing in Macao's
development, its diversification, and its success. We look ahead
today with the same confidence and enthusiasm in Macao's future that our founder Sheldon G. Adelson did two decades ago when he
committed himself to the vision of the Cotai Strip. We are thankful
for the continued trust of the Macao SAR government, for the spirit
of service and excellence of our team members, and for the
opportunity to participate in the success of one of the world's
most unique leisure and business tourism destinations."
Dr. Wilfred Wong, president of
Sands China Ltd., said: "Sands China is grateful to the
Macao government for their trust
and confidence in us to continue contributing to Macao's community, economy, and tourism
industry – and we likewise reciprocate our trust and confidence in
the guidance of the central and SAR governments, and in the future
of Macao. We are excited and
honoured to carry forward together with all stakeholders in
supporting Macao's growth as a
world centre of tourism and leisure, and to support and strengthen
Macao's role in the Greater Bay
Area. Whether in creating diversified non-gaming offerings,
cultivating local talent, or supporting local SMEs, we remain
committed and confident in our investment in Macao and in its future."
Sands China's tender submission
in September highlighted the company's unprecedented level of
investment in Macao, including in
non-gaming areas, and detailed the company's plans to help broaden
Macao's appeal as an international
tourist destination. Other highlights included Sands China's
support to local SMEs; its community outreach, volunteerism, and
charitable giving; and its training and development programmes for
team members.
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, 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 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 in
Singapore, 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; 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 our Las
Vegas real 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: mabel.wu@sands.com.mo
Jesse Chiang
Tel: +853 8118 2054
Email: jesse.chiang@sands.com.mo
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sands-china-signs-10-year-gaming-concession-contract-301705127.html
SOURCE Sands China Ltd.