Rob Goldstein, chairman and chief executive officer of Macau gaming concessionaire Sands China Ltd., has been reelected an executive director of the company, according to a May 19 filing to the Hong Kong Stock Exchange.
Charles Forman and Kenneth Chung were also returned as non-executive directors. Sands China is a unit of U.S.-based casino operator Las Vegas Sands Corp. Goldstein is also chairman and CEO of the parent company.
In March 2021, the Sands Corp. sold its Nevada properties, looking to Macau and Singapore for growth. “Asia remains the backbone of this company,” Goldstein said at the time. In Singapore, the firm operates Marina Bay Sands, one of two integrated resorts in the market, along with the Genting-operated Resorts World Sentosa.
At the May meeting, Sands China also gave directors a mandate to repurchase company shares not to exceed 10 percent of total issued shares, reported GGRAsia. Directors also may allot, issue and deal with additional shares of the company not exceeding 20 percent of issued shares.
In related news, according to Inside Asian Gaming, Sands China is planning a new hotel tower at its Cotai Expo conference center at the Venetian Macao. Sands China President Wilfred Wong told the Macau Daily News that Phase II of the expansion and the nearby French garden Le Jardin are currently in the preliminary design stage. “A hotel will be built above Sands Expo and the project is awaiting government approval,” Wong said.
“Le Jardin is in the design and conceptualization stage, with a team of expert consultants studying the project. The project will occupy an area of 50,000 square meters and is expected to become another landmark in Macau.”
Wong said the new hotel is needed to serve additional MICE clients.
“If there are no more hotel rooms, we will not be able to cope with the demands of the convention and exhibition,” he said. “We hope that the hotel will be connected to the existing convention and exhibition venues.”
Cotai Expo’s Phase 2 will span 18,000 square meters (194,000 square feet).
