Las Vegas Sands’ new CEO will honour the company’s late founder’s wishes and increase investment in Macau if authorities require it for the 2022 tender.<\/p>\n\n\n\n\n\n\n\n
Macau.- Speaking for the first time as permanent chief executive officer (CEO) of Las Vegas Sands and Sands China, Robert Goldstein<\/strong> has said he expects Macau <\/strong>authorities to require substantial capital investments<\/strong> in the city to renew casino licences in the 2022 tender.<\/p>\n\n\n\n The licences for the six major concessionaires in the gaming hub come up for renewal in 2022, although the city\u2019s chief executive could extend them for up to five years.<\/p>\n\n\n\n During an earnings call on Wednesday, Goldstein said he was willing to make the larger commitment in Macau if needed.<\/p>\n\n\n\n He said: \u201cI believe that when Macau makes a decision, there is going to be a requirement to invest more.<\/strong>\u201d<\/p>\n\n\n\n He said he was willing to honour founder Sheldon Adelson\u2019s vision to continue to expand LVS in Macau<\/strong> and in other profitable Asian markets such as Singapore.<\/p>\n\n\n\n He said: \u201cThat\u2019s how Sheldon felt, \u2018I can\u2019t wait to invest another US$5 billion or US$10 billion<\/strong>\u2019,” he said referring to the late casino mogul\u2019s attitude to the Macau 2022 tender.<\/p>\n\n\n\n He added: \u201cWe are not done in Macau<\/strong>, and we want to be there for many more years.\u201d<\/p>\n\n\n\n He also said Las Vegas Sands remained committed to its long-term investment in its Marina Bay Sands <\/strong>resort in Singapore.<\/p>\n\n\n\n Sands China\u2019s president, Wilfred Wong Ying Wai, said the company has not been informed about the future of its casino licence in Macau nor the retendering process. <\/p>\n\n\n\n He said: \u201cWe are eagerly waiting for the Macau government\u2019s direction, because we only have about 17 months left<\/strong> before the concession expires, coming up against a very tight timetable.\u201d<\/p>\n\n\n\n Goldstein had been acting chairman and acting CEO since January 7, when Sheldon Adelson<\/span><\/a><\/em><\/strong> took a leave of absence<\/strong> in order to receive medical treatment for cancer.<\/p>\n\n\n\nNew CEO at Sands<\/h2>\n\n\n\n