The Las Vegas Sands group is significantly expanding its presence in Macau, increasing its stake in Sands China by 72%. This decision, recently announced, reinforces the company’s ambition in the local gaming market, consolidating its prominent role in the region.
In December last year, the group had already acquired US$249.56 million in Sands China shares. These initiatives were made possible by Venetian Venture Development Intermediated II, a wholly owned subsidiary of Las Vegas Sands.
Sands China: a pillar of the Macau gaming scene
Sands China has established itself as one of the main players in the gaming scene in Macau, celebrating its 20th anniversary in May this year.
The company plays a vital role in the region’s economy, which has become one of the main global references in the casino and tourism industry.
The timing of the investment is strategic, as Macau is going through a crucial political period, with Sam Hou Fai running as the sole candidate for the position of Chief Executive.
With an impressive 96% margin of nominations, his victory is virtually certain. However, Hou Fai emphasizes the need for economic diversification, warning of the risks of relying solely on the gaming sector.
Macau’s economic diversification
In a recent speech, Hou Fai highlighted that after the return of sovereignty, Macau’s growth was driven by the gaming and tourism industry.
He reinforced that economic diversification is a priority imposed by the Central Government, and not an optional issue for Macau. Hou Fai’s diversification policy is expected to be formalized soon, with the election scheduled for October.
About the company
Sands China is one of the leading integrated resort companies in Macau. It operates luxury hotels, casinos and entertainment centers in the region, attracting millions of tourists annually.
Currently, its developments include the iconic The Venetian Macao and The Parisian Macao. Sands China stands out for its positive economic impact on Macau, generating jobs and promoting tourism.
Furthermore, the company invests in constant improvements to offer world-class experiences to visitors.
