Sands China will pay US$377m over the next three years.<\/p>\n\n\n\n\n\n\n\n
Macau.- Sands China<\/strong> has reported that it has entered into an agreement with its US parent company, Las Vegas Sands (LVS) LLC, to continue using Sands trademarks. It will pay up to US$377m<\/strong> over three years from January 1 2023 until December 31 2025.<\/p>\n\n\n\n The casino operator will pay up to US$114m in 2023, US$125m in 2024 and US$138m in 2025 based on a percentage of gaming and non-gaming revenue. The group will be granted certain trademarks and service marks covering its corporate identity in mainland China, Macau, Hong Kong and Taiwan. <\/p>\n\n\n\n The deal covers the \u201cdesign, development, construction, ownership, management and\/or operation of gaming and casino facilities – including those that are part of a hotel or integrated resort.” In 2019, in pre-Covid-19 trading, Sands China paid US$109.5m in licensing fees from the US$133.m cap established for that year.<\/p>\n\n\n\n Sands China<\/a> has announced that it will restructure the share capital of its subsidiary in Macau after it won a new 10-year gaming concession<\/a> in Macau\u2019s casino concession retender. Under the terms of the agreement, the share capital of Sands China\u2019s royalty-retaining subsidiary Venetian Macau Limited (VML) will increase by MOP4.8bn (US$596m) to MOP5bn (US$621m). <\/p>\n\n\n\n Sun Minqi<\/strong>, the general manager of the company, will own 15 per cent of the franchise company\u2019s share capital. Sands China will subscribe for shares by allotting 40.7m Class A shares to its two subsidiaries, Venetian Venture Development Intermediate Ltd and Venetian Concession Holding Ltd, at a subscription price of MOP4.07bn (US$506m).<\/p>\n\n\n\n The company will allot 7.3m Class B shares to Sun Minqi at a subscription price of MOP730m<\/p>\n","protected":false},"excerpt":{"rendered":" Sands China will pay US$377m over the next three years.<\/p>\n","protected":false},"author":176,"featured_media":26755,"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 formalized a three-year agreement with its US parent, Las Vegas Sands (LVS) LLC, for trademark usage, incurring fees up to US$377 million based on gaming and non-gaming revenue. Concurrently, following its new Macau gaming concession, Sands China is restructuring the share capital of its subsidiary, Venetian Macau Limited (VML), increasing it by MOP4.8 billion (US$596 million) and allocating a 15% stake to general manager Sun Minqi.","focusai_entities":"Sands China, Las Vegas Sands (LVS) LLC, Venetian Macau Limited (VML), Sun Minqi, Venetian Venture Development Intermediate Ltd, Venetian Concession Holding Ltd","focusai_location":"Macau, mainland China, Hong Kong, Taiwan, US","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.88), operator_casino (0.85), investor_analyst (0.97), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on NGR?","query":"How will the new trademark licensing fee structure, based on a percentage of gaming and non-gaming revenue, impact Sands China's Net Gaming Revenue (NGR) and overall profitability compared to pre-COVID arrangements?"},{"label":"Regulatory Compliance Rationale?","query":"What is the specific regulatory rationale behind the MOP4.8 billion capital increase for Venetian Macau Limited, and how does the 15% local ownership by Sun Minqi align with Macau's updated gaming concession governance frameworks?"}],"footnotes":""},"categories":[157,16338],"tags":[21680],"class_list":["post-777000744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000744","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777000744"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000744\/revisions"}],"predecessor-version":[{"id":777000779,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000744\/revisions\/777000779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26755"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777000744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777000744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777000744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}