September 14, 2022 Legal, Land Based, Finance

Sands submits application for a 10-year gaming concession in Macao

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This highlights an unprecedented level of investment that Sands China has made in Macao.

Las Vegas Sands Corp. and Sands China Ltd. announced the submission for a new 10-year gaming concession in Macao. The application highlights the unexpected level of investment that Sands China has made in the region.

The move also highlights the organization's plans for continuing to broaden Macao's appeal as an international tourist destination.

Las Vegas Sands and Sands China's Chairman and CEO, Robert G. Goldstein, said: "No one has been a bigger believer in Macao's long-term success as a leisure and business tourist destination than we have. 

"Investments in our world-class assets, our team members and the local community are a testament to our overall commitment to Macao and this tender submission reiterates our longstanding strategy of continuous investment in Macao."

Goldstein also revealed the company plans to expand local talent development initiatives including the expansion of its Sands China Academy offerings. 

He continued: "On behalf of our 25,000 team members in Macao, senior management, our boards of directors and the Adelson family, we are honored to have submitted our application and look forward to continuing the wonderful partnership we have had with the people of Macao for the last two decades."

Sands went on to announce that Dave Sun MinQi, who served as Sands China's chief financial officer since 2017, has been put forward as the future managing director of Venetian Macau Limited.

Grant Chum Kwan Lock will take over the role of Executive Vice President of Asia operations for Las Vegas Sands.

Goldstein added: "Sands China has an unwavering commitment to the long-term success of Macao as Asia's leading leisure and business tourism destination."

Sands' portfolio of properties includes Marina Bay Sands in Singapore and The Venetian Macao. 

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