Sands China Renews $377M Trademark Agreement With LVS

Macau-based Sands China Ltd announced that it has renewed its brand license agreement with its parent investor Las Vegas Sands (LVS) for three years beginning in January 2023. The agreement includes granting Sands China a license for LVS to continue using the LVS trademark at a price of $377 million.

Under the new International Trademark License Agreement, Sands China’s annual payments are calculated based on Sands China’s gaming (GGR) and non-gaming revenue ratios, with a total payment of $377 million, capped at $114 million in 2023, $125 million in 2024 and $138 million in 2025.

This new agreement comes after the termination of the current second Trademark Sub-License Agreement, which is no longer valid from December 31, 2022. 카지노사이트 순위

In addition to Sands China, a number of subsidiaries, including Venetian Cotai Ltd., current Macao Licensee Venetian Macao Ltd., and Cotai Strip Lot 2 Apartment Hotel (Macau) Ltd., which is in charge of apartment-hotel tower management for The Plaza Macao, will be able to access the LPS brand.

Sands China and its subsidiaries paid $109.5 million to LVS during pre-COVID-19 transactions in 2019.

In 2020, when COVID-19 began, it paid $21.7 million, and the contract, which runs through December 31, paid $16.4 million in the first nine months of 2022.

A spokesperson for Sands China said, “In consideration of LVS granting the group licenses to use certain trademarks and service marks, each licensee shall pay LVS an annual royalty at a rate of 1.5% of total non-game and gaming revenue.

“Total revenue is calculated in accordance with US GAAP (commonly accepted accounting principles) effective January 1, 2023.

“The use of LVS trademarks is critical to the success of the Group’s business because they are licensed and service trademarks stemming from the essential part of the Group’s corporate identity.”

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