NBA Inks Multi-year Handle Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The National Basketball Association (NBA) has actually signed a multi-year arrangement with Macau casino operator Sands China, to play pre-season games in Macau, a relocation that comes as authorities urge the casino market to diversify away from betting.
The contract, which was reported by local media outlets on Friday and confirmed to Reuters by a source with understanding of the offer, sets the scene for an NBA legends celebrity game on Dec. 7 that Sands is due to host at its Venetian home.
The NBA prepares to host two pre-season games each year for the next 5 years at Sands’ Venetian arena. It will start in October next year, NBA’s deputy commissioner Mark Tatum told local media at an interview in Macau on Friday.
Macau, an unique administrative area of China, is the only location in the country where citizens are able to lawfully bet in gambling establishments.
It’s federal government and Beijing have been prompting the six certified casinos – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their proportion of income from non-gaming.
Macau’s economy is greatly dependent on the casino market which contributes to around 80% of local tax profits.
In 2015 Macau’s federal government presented its first plan fixated a technique where tourism and leisure are the main pillars, supported by emerging industries including traditional Chinese medicine, health, services, innovation as well as conventions, exhibits, trade, culture and sports.
(Reporting by Farah Master Editing by Shri Navaratnam)
