23,000 employers of Sands China will receive a \u201cdiscretionary allowance.\u201d<\/p>\n\n\n\n\n\n\n\n
Macau.- Sands China Ltd<\/strong> is going to pay a \u201cdiscretionary allowance\u201d equal to one month\u2019s salary to more than 23,000 eligible full-time workers on January 18. In a statement, the Macau casino operator said that 99 per cent of its workforce will benefit from \u201ceither the discretionary allowance or the company\u2019s sales incentive scheme\u201d.<\/p>\n\n\n\n Wilfred Wong<\/strong>, president of Sands China, said in a note sent to employees that the company appreciated their effort, dedication and contribution in 2022.<\/p>\n\n\n\n \u201cSands China has established strong roots in Macau over the last 20 years. Looking back over those years, we have walked alongside each other, achieving brilliant milestones as we developed Sands China into the largest integrated tourism and leisure resort operator in Macau, thereby realizing the vision of the group,\u201d he said.<\/p>\n\n\n\n Wong added: \u201cThe company has also walked alongside the broader community, supporting Macau in any way we can through good times and difficult times, dedicated to driving economic diversification and fulfilling our corporate responsibility to give back to the community.\u201d<\/p>\n\n\n\n \u201cThese special times have tested us over and over; however, we have no doubt that we will continue to demonstrate the ability to thrive and show the \u2018Sands China Spirit\u2019 of which we are so proud,\u201d he concluded.<\/p>\n\n\n\n In December, Sands China<\/strong> reported that it has entered into an agreement with its US parent company, Las Vegas Sands (LVS) LLC, to continue using Sands trademarks<\/a>. 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 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","protected":false},"excerpt":{"rendered":" 23,000 employers of Sands China will receive a \u201cdiscretionary allowance.\u201d<\/p>\n","protected":false},"author":226,"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 is distributing a discretionary allowance to over 23,000 Macau employees, signaling post-pandemic operational stability and employee recognition. Concurrently, the operator extended its trademark agreement with Las Vegas Sands for three years, involving payments tied to gaming and non-gaming revenue. Following its successful bid for a new 10-year gaming concession, Sands China is also undertaking a significant share capital restructuring of its Macau subsidiary, Venetian Macau Limited, increasing capital by MOP4.8bn and allocating a 15% stake to its General Manager.","focusai_entities":"Sands China Ltd, Las Vegas Sands (LVS) LLC, Wilfred Wong, 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 (1.0), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Trademark Deal Impact","query":"What are the specific financial implications of the new trademark agreement on Sands China's NGR and EBITDA projections for 2023-2025, considering the revenue-based payment structure?"},{"label":"Capital Restructure Governance","query":"How does the MOP4.8bn share capital increase and the 15% local ownership stake in Venetian Macau Limited impact Sands China's corporate governance framework and long-term capital allocation strategy?"}],"footnotes":""},"categories":[157,16338],"tags":[21680],"class_list":["post-777001261","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\/777001261","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777001261"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001261\/revisions"}],"predecessor-version":[{"id":777001271,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001261\/revisions\/777001271"}],"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=777001261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sands China extends trademark rights for three years<\/h2>\n\n\n\n