Sands China Limited has committed to invest MOP$30.2 billion (US$3.8 billion) during the 10-year term of its next Macau casino concession from 2023 to 2032, of which MOP$27.8 billion (US$3.5 billion), around 92%, is planned to be in non-gaming initiatives.
Announcing its “Vision and Investment for the Next Decade in Macao” at a press conference on Saturday morning, the company stated it “believes in the long-term growth of Macao.”
“As we look to the future in Macao, we rely on the plan we have successfully executed over the past twenty years. Sheldon Adelson’s vision for what our company would deliver for Macau was big and bold and we are extremely proud of all that has been accomplished,” said Las Vegas Sands and Sands China Chairman and Chief Executive Officer, Robert G Goldstein.
“With the support of the government and an extraordinary level of commitment from Sands China, Macau has evolved into a true international destination for leisure and business travel. We believe continued growth in Macau is still in front of us, and as demonstrated since we first began operating there, we will continue supporting and investing in Macau as it solidifies its position as one of the world’s greatest tourism destinations.”
Fronting the media on behalf of Sands China at a Macau press conference on Saturday were President and Executive Director Dr Wilfred Wong and Executive Director Dave Sun.
“Sands China is confident in Macau’s future and is appreciative of the opportunity to continue working with the Macau SAR government to support the growth of Macau’s economy, society and environment,” said Wong. “Our vision, and the strategy we will use to guide us, will help the government reach its important goals of continuing to grow Macau into a world center of tourism and leisure, promoting its economic and industrial diversification and enhancing its international reputation.
“While the gaming industry in Macau has grown rapidly over the past 20 years, everyone has focused on the gaming industry, but in fact Sands has many non-gaming elements. We have observed that the needs of customers have changed dramatically, with many young middle-class people coming to Macau for the food and new attractions, rather than for gambling.
“We are eager to support Macau’s growth over the next decade. Our company is proud of our contributions during the two previous decades of operations, and we have every confidence the future will bring even more meaningful benefit to Macau and all who share in its success.”
Dr Wong said the company would dedicate resources to several key areas, including the following.
MICE
Sands has committed to expand, improve and optimize the scale and quality of its convention centers and related amenities, including the proposed development of a new approximately 18,000 square meter MICE facility adjacent to the existing Cotai Expo. Sands also said it would strengthen the planning, organization and international marketing of convention tourism to attract global multinational companies to host annual meetings and corporate summits in Macao.
Expansion of Le Jardin
Sands has pledged to redevelopment the existing Le Jardin (also known as the “Tropical Garden”), on the south side of The Londoner Macao, to create a new and internationally unique approximately 50,000 square meter garden-themed destination. The proposed garden-themed attraction is planned to include an iconic conservatory together with related themed green spaces and amenities, become a Macao landmark of international renown, and provide a year-round themed attraction for tourists and residents.
Entertainment and Sporting Events
Sands has said it will expand its entertainment and sporting events and offerings to grow international tourism, supported by what it described as “a meaningful reinvestment and upgrade of the Cotai Arena.”
City of Gastronomy
Sands plans to develop several new restaurants and introduce innovative international culinary concepts to support Macau’s position as a city of gastronomy. The company will also launch a luxury yacht experience featuring on-board dining and entertainment including celebrity appearances, as well as water sports.
Comprehensive overseas marketing strategy
Sands has made investment commitments to help drive international visitation. It plans to focus marketing expenditure in overseas markets, including overseas media and distribution platforms, and to increase the company’s network of international sales offices in Asia, the US and Europe. Sands plans to host an annual large-scale international business exchange event – to be known as the “Macao Showcase” – at Marina Bay Sands in Singapore to elevate the exposure of Macau as a MICE tourism destination. The company has also committed to target international customer markets including South Korea, Japan, India, Southeast Asia and the US.
SME
Sands says it will grow its commitment to small and medium-size enterprises.
Staff development
Sands has pledged to continue to prioritize the hiring, training and horizontal and upward mobility of local Macao residents and says it will establish six new Sands China Academies focusing on MICE, hospitality, Integrated Resort management, facilities, responsible gaming and entertainment. The company plans to create an incubation center to nurture local technology innovation and entrepreneurship.
Cultural Heritage
Specific plans to promote Macau’s cultural heritage include the creation by Sands of a “Macao Heritage Carnival” to be hosted throughout traditional areas of the city, facilitating trips for its patrons to Macau’s traditional areas and hosting MICE group events visiting historical landmarks throughout Macau. It also plans to launch what it describes as “innovative programs to revitalize Macau’s rich cultural heritage including partnering with local artists to hold regular performances, exhibitions and workshops in rehabilitated buildings.”
