United States-based casino group Las Vegas Sands Corp has renewed for three years – until December 31, 2028 – a deal for use of trademarks by four Macau-registered subsidiaries of Sands China Ltd.
The information was given in a Wednesday filing to the Hong Kong Stock Exchange by Sands China.
The subsidiary Sands China entities covered are: Venetian Macau Ltd (VML); Venetian Cotai Ltd (VCL); Venetian Orient Ltd (VOL); and Cotai Strip Lot 2 Apart Hotel (Macau) Ltd (CSL2).
As per the filing, VML owns and operates the Sands Macao casino hotel in downtown Macau and operates the casinos at the Cotai complexes The Venetian Macao, The Plaza Macao, The Parisian Macao and The Londoner Macao.
VCL owns buildings of The Venetian Macao, The Plaza Macao, and The Parisian Macao.
VOL owns The Londoner Macao. CSL2’s principal activities are the operation and management of The Grand Suites at Four Seasons in Cotai.
“Each licensee shall pay Las Vegas Sands an annual royalty at the rate of 1.5 percent of its gross non-gaming and gaming revenue,” said the Wednesday filing in Hong Kong.
The update added that gross revenue would be calculated according to U.S. generally-accepted accounting principles (GAAP), and with certain provisos on the methodology.
The annual caps for 2026, 2027 and 2028 set for the transactions under the renewed trademark agreement are respectively US$138.5 million; US$152.4 million; and US$167.6 million.
Sands China’s current 10-year Macau casino concession runs – as do those of the city’s other five operators – until December 31, 2032.
The annual caps on trademark licensing payments were decided by the Las Vegas Sands board “after due and careful consideration” of factors including “historical fees” paid by Sands China in calendar years 2023 and 2024, and the nine months ended September 30, 2025.
Other factors in the yearly cap calculations for the fresh deal were “potential revenues of the group; and the group’s expected future developments in Macau”.
Sands China added that the licensed marks and licensed intellectual property concerned were for the “marketing, advertising and promotion” of business in Macau, are “important to the success of the business,” and “form an integral part of the group’s corporate identity”.
Also on Wednesday, Sands China announced to the Hong Kong bourse a three-year renewal, until December 31, 2028, of a marketing services agreement with the U.S. parent.
Its annual caps are: US$12.1 million, US$13.1 million, and US$14.2 million respectively.
On Tuesday, Macau casino concessionaire MGM China Holdings Ltd announced a fresh trademark licensing deal with its U.S. parent, MGM Resorts International.
