About Las Vegas Sands
Las Vegas Sands Corp. operates as a global developer and operator of destination properties (Integrated Resorts) that feature premium accommodations, world-class gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants and other amenities. The company owns and operates Integrated Resorts in Macao Special Administrative Region (Macao) and Singapore. The company focuses on the mass market. The company also offers loyalty programs at its properties, which provide access to rewards, privileges and members-only events. The company’s properties also cater to high-end players by providing them with luxury amenities and premium service levels. These amenities include luxury accommodations, restaurants, lounges, invitation-only clubs and private gaming salons. In each of the regions where it operates, the Paiza brand is associated with certain of these exclusive facilities and represents an important part of its VIP gaming marketing strategy. The company’s unique convention-based marketing strategy allows it to attract business travelers during the slower mid-week periods while leisure travelers occupy its properties during the weekends. The company’s convention, trade show and meeting facilities, combined with the on-site amenities offered at its Macao and Singapore Integrated Resorts, provide flexible and expansive space for meetings, incentives, conventions and exhibitions (MICE). Through its 69.9% ownership of Sands China Ltd. (SCL), the company owns and operates a collection of Integrated Resorts in the Macao Special Administrative Region (Macao) of the People's Republic of China (PRC or China). These properties include The Venetian Macao Resort Hotel (The Venetian Macao); The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip (the Four Seasons Macao); and the Sands Macao. In Singapore, the company owns and operates the iconic Marina Bay Sands, which opened in 2010 and is one of Singapore's major tourist, business and retail destinations. The company is dedicated to sustainability across environment, social and governance (ESG) priorities, anchored by its People, Communities and Planet corporate responsibility platform. The company is committed to creating and investing in industry-leading policies and procedures to safeguard its patrons, partners, employees and neighbors. The company’s industry-leading Integrated Resorts provide substantial contributions to its host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses. The company continuously makes efforts to improve its environmental performance through its Sands ECO360 global sustainability program (Sands ECO360). Through Sands ECO360, the company develops and implements environmental practices to advance energy efficiency and transition to renewables, reduce waste, conserve water and source products and materials responsibly. In addition, the company posts certain information regarding SCL, a subsidiary of LVSC. The company’s principal operating and developmental activities occur in two geographic areas: Macao and Singapore. Management reviews the results of operations for each of its operating segments, which generally are its Integrated Resorts. In Macao, the company’s operating segments are: The Venetian Macao; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao; and Sands Macao. In Singapore, the company’s operating segment is Marina Bay Sands. Additionally, prior to its sale, the company’s operating segment in the United States was The Venetian Resort Las Vegas and the Sands Expo and Convention Center (together, the Las Vegas Operating Properties) through February 22, 2022, which has been disclosed as a discontinued operation. The company also reviews construction and development activities for its primary projects under development. The company also has ferry operations and various other operations that are ancillary to its Macao properties (collectively, Ferry Operations and Other). Strategy The key elements of the company’s strategy are to diversify high quality Integrated Resort offerings with substantial non-gaming amenities; market leadership in the growing high-margin mass market gaming segment; establish brands with broad regional and international market awareness and appeal; unique MICE and entertainment facilities; develop and diversify its Integrated Resort offerings to include a full complement of products and services to cater to different market segments; and identify targeted investment opportunities to drive growth across its portfolio. Operations Macao The Venetian Macao is the anchor property of the company’s Cotai Strip development and is located approximately two miles from the Taipa Ferry Terminal on Macao's Taipa Island and six miles from the bridge linking Hong Kong, Macao and Zhuhai. The Venetian Macao includes approximately 503,000 square feet of gaming space and gaming support area. The Venetian Macao features a 39-floor luxury hotel tower with 2,905 elegantly appointed luxury suites and the Shoppes at Venetian, approximately 948,000 square feet of unique retail shopping with stores featuring many international brands and home to restaurants and food outlets featuring an international assortment of cuisines. In addition, The Venetian Macao has approximately 1.2 million square feet of convention facilities and meeting room space. The Londoner Macao, the company’s largest Integrated Resort on the Cotai Strip, is located across the street from The Venetian Macao, The Parisian Macao and The Plaza Macao and Four Seasons Macao. The Londoner Macao is the result of the company’s renovation, expansion and rebranding of Sands Cotai Central, which included the addition of extensive thematic elements both externally and internally and was completed during 2022. The Londoner Macao presents a range of new attractions and features, including some of London’s most recognizable landmarks, such as the Houses of Parliament and the Elizabeth Tower (commonly known as Big Ben), and interactive guest experiences. The Integrated Resort features four hotel towers. The Integrated Resort includes approximately 400,000 square feet of gaming space and gaming support area. The Parisian Macao, which is connected to The Venetian Macao and The Plaza Macao and Four Seasons Macao, includes approximately 272,000 square feet of gaming space and gaming support area. The Parisian Macao also features 2,541 rooms and suites and the Shoppes at Parisian, approximately 296,000 square feet of unique retail shopping with 112 stores featuring many international brands and home to 26 restaurants and food outlets featuring an international assortment of cuisines. The Plaza Macao and Four Seasons Macao, which is located adjacent to The Venetian Macao, has approximately 108,000 square feet of gaming space and gaming support area with approximately 90 table games and 20 slot machines and ETGs at its Plaza Casino. The Plaza Macao and Four Seasons Macao also has 360 elegantly appointed rooms and suites managed by FS Macau Lda., several food and beverage offerings, and conference and banquet facilities. The Grand Suites at Four Seasons features 289 luxury suites. The Shoppes at Four Seasons includes approximately 249,000 square feet of retail space. The Plaza Macao and Four Seasons Macao also features 19 ultra-exclusive Paiza Mansions, which are individually designed and made available by invitation only. The Sands Macao, the first U.S. operated Las Vegas-style casino in Macao, is situated near the Macao-Hong Kong Ferry Terminal on a waterfront parcel centrally located between Macao's Gongbei border gate with China and Macao's central business district. The Sands Macao includes approximately 176,000 square feet of gaming space and gaming support area with table games and slot machines and ETGs. The Sands Macao also includes a 289-suite hotel tower, spa facilities and several restaurants and entertainment areas. The company operates the gaming areas within its Macao properties pursuant to a 10-year gaming concession that expires in December 2032. Singapore The company is undertaking extensive renovation work with rooms and suites resulting upon completion, which is expected to greatly enhance the positioning of its suite product. Atop the three towers is the Sands SkyPark, an extensive outdoor recreation area with a 150-meter infinity swimming pool and leading restaurant and nightlife brands. The Integrated Resort offers approximately 162,000 square feet of gaming space with table games and slot machines and ETGs; The Shoppes at Marina Bay Sands, an enclosed retail, dining and entertainment complex with signature restaurants from world-renowned chefs; an event plaza and promenade; and an art/science museum. Marina Bay Sands also includes approximately 1.2 million square feet of meeting and convention space and a state-of-the-art theater for top Broadway shows, concerts and gala events. The company operates the gaming area within its Singapore property pursuant to a 30-year casino concession provided under a development agreement entered into in 2006. Retail Mall Operations The company owns and operates retail malls at its Integrated Resorts at The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Macao and Marina Bay Sands. The company owns approximately 2.8 million square feet of gross retail space. The company’s malls are designed to complement its other unique amenities and service offerings provided by its Integrated Resorts. The company’s strategy is to seek out desirable tenants that appeal to its patrons and provide a wide variety of shopping options. The company generates its mall revenue primarily from leases with tenants through base minimum rents, overage rents and reimbursements for common area maintenance (CAM) and other expenditures. Development Projects The company regularly evaluates opportunities to improve its product offerings, such as refreshing its meeting and convention facilities, suites and rooms, retail malls, restaurant and nightlife mix and its gaming areas, as well as other revenue generating additions to its Integrated Resorts. Macao MICE Facility Expansion: The company plans to expand its convention sector capabilities by constructing a state-of-the-art MICE facility. This new venue, encompassing roughly 18,000 square meters, will adjoin its existing Venetian Macao exhibition center (the Cotai Expo). Tropical Garden Redevelopment: Le Jardin, located on the southern flank of The Londoner Macao, is to undergo a transformation into a distinctive garden-themed attraction spanning approximately 50,000 square meters. Featuring an iconic conservatory and an array of themed green spaces, this development is intended to become a celebrated Macao landmark that offers a compelling, year-round experience for both tourists and local residents. Entertainment: The company’s Investment Plan includes a broadening of its entertainment and sporting event portfolio, which will include substantial upgrades to the Cotai Arena. The company has commenced works on Phase II of the Londoner Macao, which includes the renovation of the rooms in the Sheraton and Conrad hotel towers, an upgrade of the gaming areas and the addition of new attractions, dining, retail and entertainment offerings. Singapore In 2019, the company's wholly owned subsidiary, Marina Bay Sands Pte. Ltd. (MBS) and the Singapore Tourism Board (the STB) entered into the Second Development Agreement pursuant to which MBS has agreed to construct a development, which will include a hotel tower with luxury rooms and suites, a rooftop attraction, convention and meeting facilities and a state-of-the-art live entertainment arena with approximately 15,000 seats. On March 22, 2023, MBS and the STB entered into a supplemental agreement (the Supplemental Agreement), which extended the construction commencement date to April 8, 2024 and the construction completion date to April 8, 2028, and allowed for changes to the construction and operation plans under the Second Development Agreement. Other The company continues to evaluate additional development projects in each of its markets and pursue new development opportunities globally. Regulation and Licensing On December 16, 2022, the Macao government granted Venetian Macau Limited (VML), SCL's wholly owned subsidiary, one of six concessions to operate casinos in Macao. VML entered into a concession agreement with the Macao government for the duration of ten years, beginning January 1, 2023 (the Concession). With the expiry of VML’s subconcession on December 31, 2022, all of the company’s casinos, gaming areas and respective supporting areas located in Sands Macao, The Venetian Macao, The Plaza Macao and Four Seasons Macao, The Londoner Macao and The Parisian Macao, with a total approximate area of approximately 136,000 square meters (representing approximately 4.7% of the total property area of these entities), reverted to and are owned by the Macao government. History Las Vegas Sands Corp. was founded in 1988. The company was incorporated as a Nevada corporation in 2004.
