Ahead of Xi Jinping's visit, Sands China CEO said Macao is becoming a city of sports and entertainment [CNBC]
SANDS CHINA LTD UNSP/ADR (SCHYY)
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Source: CNBC
In an interview on “ Squawk Box Asia ,” Chum cited a deal announced in early December between Sands China and North America's National Basketball Association to play two NBA pre-season games in China. “We'll be bringing the NBA China games back to China, but this time in Macao,” Chum told CNBC's Emily Tan. “We don't want just to do a one-off event. We believe that a multi-year partnership, where we're going to be playing these pre-season games over several years, is going to really bolster Macao's positioning.” The games are part of Sands China's commitment to invest $4.5 billion into the city through 2032, of which “over 90% ... will be in non-gaming investments,” said Chum. Collectively, Macao's six gaming operators pledged to invest nearly $15 billion to make Macao's economy less dependent on gambling revenue. The operators' gaming licenses were renewed in 2022 — albeit for 10 years, instead of 20 — after each promised to invest heavily in non-gaming projects But for some,
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