Three Las Vegas companies receive Macau licensing extensions
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Sands Corp. will invest $3.5 billion over the next decade in restaurants, yacht and tourist attractions in Macao. The expansion will include a nearly 40,000-square-foot Le Jardin (“The Tropical Garden”). The company will expand, improve and optimize the scale and quality of its convention centers. Three Las Vegas-based casino companies received Macau licensing extensions.
MGM Grand Paradise Ltd. announced its new gaming concession contract. The contract includes $15 billion for non-gaming projects and $10 billion to invest in gaming. Wynn and MGM haven't publicly detailed their investment plans in Macao. Macaos gaming revenues have been hit by the Chinese government's "zero-COVID" policy. Macau's 39 casinos made more money in February than a year earlier. November's total revenue was $374.4 million. Pansy Ho, daughter of longtime Macana casino magnate Stanley Ho said the gaming contract renewal represents an important milestone for the company.
