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NBA Inks Multi-year Deal with Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The National Basketball Association (NBA) has signed a multi-year agreement with Macau gambling establishment operator Sands China, to play pre-season games in Macau, a relocation that comes as authorities urge the casino market to diversify away from gaming.
The arrangement, which was reported by regional media outlets on Friday and confirmed to Reuters by a source with understanding of the deal, sets the scene for an NBA legends celeb game on Dec. 7 that Sands is due to host at its Venetian residential or commercial property.
The NBA prepares to host 2 pre-season 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 informed local media at a press conference in Macau on Friday.
Macau, an unique administrative region of China, is the only location in the country where people are able to legally gamble in gambling establishments.
It’s federal government and Beijing have actually been urging the 6 certified gambling establishments – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their proportion of revenue from non-gaming.
Macau’s economy is heavily based on the market which contributes to around 80% of local tax profits.
Last year Macau’s federal government presented its very first plan fixated a technique where tourism and leisure are the main pillars, supported by emerging markets including standard Chinese medication, health, financial services, technology along with conventions, exhibits, trade, culture and sports.
(Reporting by Farah Master Editing by Shri Navaratnam)
