Sources detailed that the three-year extension will include relevant management
850 retail shopping locations, including Sands Macao, Venetian Macao, The Plaza Macao, Parisian Macao and Sands Cotai Central Development Area of Hong Kong-listed operators.
Las Vegas Sands Corporation owns approximately 70% of Sands China Limited, and the contract extension reportedly limits the amount of related annual payments it receives from its affiliates next year to $10.2 million before the limit rises to $11.2 million and $12.2 million in 2022 and 2023, respectively.
Sands China Limited also owns additional Cotai Expo and Cotai Arena facilities in Macau, as well as a nearby 1,200-seat Paris theater, a luxurious 1,800-seat Venetian theater and the Sands Cotai theater under construction. It is now known that the company can continue to provide premium players and members of the Sands Rewards Club scheme with access to a range of company-wide special incentives and promotions.
"The Shared Services Agreement stipulates the relationship between the Group and Las Vegas Sands Corporation regarding the provision of shared services between the Group and Las Vegas Sands Corporation. The reason and benefit of the renewal agreement is to renew the term of the Shared Services Agreement for a three-year period ending December 31, 2023, and is in line with the growth of the Company's separate business units."