Yibing Mao joins Las Vegas Sands board

Jul 21, 2021 Newsdesk Latest News, Macau, Singapore, Top of the deck, World  

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Las Vegas Sands Corp, parent of Macau casino operator Sands China Ltd, said in a Tuesday filing in the United States that it had appointed Yibing Mao as a member of the parent group’s board, with effect from July 16.

Las Vegas Sands is also the parent of Marina Bay Sands Pte Ltd, the operator of the Marina Bay Sands casino resort in Singapore.

According to a LinkedIn page in her name, Ms Mao has acted as chief legal counsel, Asia Pacific, at hotel operator and franchiser Marriott International Inc. Other biographical materials describe her as a native of Beijing.

Two of the Marriott brands – St Regis and Sheraton – are operating at Sands China’s the Londoner Macao resort in the Cotai district of Macau.

Las Vegas Sands noted, in its filing announcing her addition to its board: “There are no arrangements between Ms Mao and any other person pursuant to which Ms Mao was selected as a director, nor are there any transactions to which the company or any of its subsidiaries is a party and in which Ms Mao has a material interest subject to disclosure” under U.S. stock market rules.

The announcement added that Ms Mao had not as of that date been appointed to any committees of the Las Vegas Sands board.

As a non-employee director, Ms Mao would be compensated for her services “as described in the company’s proxy statement” for its 2021 annual meeting of stockholders.

That document, filed on March 31, mentions a US$150,000 annual-retainer fee for non-employee board members, with other annual retainer payments available if the director becomes involved in board-related committee work.

Sands China’s current Macau casino rights expire in June next year, in common with the other five operators in that city. It is anticipated that a new public tender for Macau gaming rights will be at some stage associated with the expiry of the current concessions.

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