Sands China has renewed two agreements with controlling shareholder Las Vegas Sands Corp. that govern the use of LVS trademarks and the provision of shared services, extending both arrangements for a further three years from January 1, 2026 through December 31, 2028.
Under the trademark renewal, LVS and Sands China subsidiaries Venetian Macau Limited, Venetian Cotai Limited, Venetian Orient Limited and Cotai Strip Lot 2 Apart Hotel (Macau) Limited will continue to hold a license to use LVS marks and related intellectual property in Macau, mainland China, Hong Kong and Taiwan for the design, development and operation of casinos and integrated resort facilities.
The agreement also permits the use of the marks globally for marketing Sands China's business in the territory.
Sands China said licensees will pay LVS an annual royalty of 1.5% of gross gaming and non-gaming revenue, calculated under U.S. GAAP as in effect on January 1, 2026.
Royalties will be calculated monthly and paid by the 30th day of the following month. The company set annual caps of $138.5m for 2026, $152.4m for 2027 and $167.6m for 2028. Historical fees paid under the existing agreement were $100.1m in 2023, $110.6m in 2024 and $84.4m for the nine months ended September 30, 2025.
Separately, Sands China renewed its shared services agreement with LVS for the same three-year period. The renewal covers marketing services targeting LVS loyalty customers who may also visit Sands China's Macau resorts, plus marketing and management support related to Sands China properties.
It also covers transportation and related services using LVS-owned or available vehicles, including aircraft and vessels. The fees for these services are generally charged on a cost allocation basis, with invoices typically payable within 90 days.
Annual caps for marketing services were set at $12.1m for 2026, $13.1m for 2027 and $14.2m for 2028, while transportation and related services caps were set at $11.7m, $12.9m and $14.2m, respectively.
Sands China said both renewals constitute continuing connected transactions under Chapter 14A of the Hong Kong Stock Exchange listing rules and are subject to reporting, announcement and annual review requirements, but exempt from independent shareholder approval.
The disclosures follow a similar move elsewhere in Macau. MGM Resorts International recently finalized a long-term branding agreement with MGM China that extends naming rights through 2032 and increases the monthly license fee to 3.5% of adjusted net monthly revenues, also structured with annual caps under HKEX requirements.
Sands China's Macau portfolio includes Sands Macao, The Venetian Macao, The Plaza Macao, The Parisian Macao and The Londoner Macao, alongside The Grand Suites at Four Seasons
