{"id":12621,"date":"2020-12-10T21:51:40","date_gmt":"2020-12-10T21:51:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=12621"},"modified":"2026-04-23T23:17:02","modified_gmt":"2026-04-24T02:17:02","slug":"sands-china-renews-services-agreement-with-lvs","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-renews-services-agreement-with-lvs","title":{"rendered":"Sands China renews services agreement with LVS"},"content":{"rendered":"\n<p>The renewal is for three years starting in 2021, extending beyond the casino licence tenders due in 2022.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Sands China has renewed its shared services agreement with its US parent company, Las Vegas Sands (LVS).<\/p>\n\n\n\n<p>The new agreement is for a term of three years commencing on January 1, 2021 and ending on December 31, 2023. This would go beyond the 2022 re-tender for Macau\u2019s casino licences, which the city has said it intends to proceed with as planned.<\/p>\n\n\n\n<p>The contract is for marketing and retail leasing services as well as management and marketing services, Sands China said in a filing to the Stock Exchange of Hong Kong.<\/p>\n\n\n\n<p>LVS provides joint international marketing services targeting VIP players, premium players and Sands Rewards Club members. It includes hotel, convention, exhibition, meetings and entertainment sales, marketing and public relations services.<\/p>\n\n\n\n<p>Payment will be calculated on a cost basis with annual caps set at US$10.2m for the first year of the new agreement, US$11.2m for the second and US$12.2m for the last.<\/p>\n\n\n\n<p>Sands China\u2019s operations have been heavily hit by the Covid-19 pandemic and resulting travel restrictions. It reported <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-reports-us562-million-net-losses-for-q3\" target=\"_blank\">net losses of MOP4.4bn<\/a><\/em><\/strong> (US$562m) for the third quarter of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The renewal is for three years starting in 2021, extending beyond the casino licence tenders due in 2022.<\/p>\n","protected":false},"author":2,"featured_media":12624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China has renewed its shared services agreement with its US parent company, Las Vegas Sands (LVS), for a three-year term from 2021 to 2023. This agreement, covering international marketing, retail leasing, and management services for VIP and premium players, strategically extends beyond Macau's anticipated 2022 casino licence re-tender. The renewal occurs amidst Sands China reporting significant net losses for Q3 2020 due to pandemic-related travel restrictions.","focusai_entities":"Sands China, Las Vegas Sands (LVS), Stock Exchange of Hong Kong","focusai_location":"Macau, US","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.8), operator_casino (1.0), marketing_crm (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Concession Re-tender Impact","query":"What are the specific implications of this shared services agreement extending beyond the 2022 Macau concession re-tender for Sands China's operational stability and potential re-licensing?"},{"label":"Financial Impact Analysis","query":"How do the annual caps on shared services payments impact Sands China's P&L, particularly given its recent net losses, and what is the long-term financial outlook for this inter-company arrangement?"}],"footnotes":""},"categories":[157,16338,158],"tags":[1642,257,21680],"class_list":["post-12621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-las-vegas-sands","tag-macau","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12621"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12621\/revisions"}],"predecessor-version":[{"id":12631,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12621\/revisions\/12631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12624"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}