
SPRIBE
Add a review FollowOverview
- Sectors Banking & Finance
- Posted Jobs 0
- Viewed 15
Company Description
NBA Inks Multi-year Handle Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The National Basketball Association (NBA) has signed a multi-year contract with Macau gambling establishment operator Sands China, to play pre-season games in Macau, a relocation that comes as the casino market to diversify away from betting.
The arrangement, which was reported by local media outlets on Friday and validated to Reuters by a source with understanding of the deal, sets the scene for an NBA legends star game on Dec. 7 that Sands is because of host at its Venetian property.
The NBA plans to host 2 pre-season video games each year for the next five years at Sands’ Venetian arena. It will begin in October next year, NBA’s deputy commissioner Mark Tatum told regional media at an interview in Macau on Friday.
Macau, an unique administrative region of China, is the only location in the country where people are able to lawfully gamble in gambling establishments.
It’s federal government and Beijing have been urging the 6 certified gambling establishments – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their proportion of profits from non-gaming.
Macau’s economy is greatly based on the gambling establishment market which adds to around 80% of regional tax revenue.
In 2015 Macau’s government rolled out its very first blueprint focused on a strategy where tourism and leisure are the main pillars, supported by emerging industries consisting of standard Chinese medicine, health, monetary services, technology as well as conventions, exhibitions, trade, culture and sports.
(Reporting by Farah Master Editing by Shri Navaratnam)