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NBA Inks Multi-year Handle Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The National Basketball Association (NBA) has actually signed a multi-year contract with Macau gambling establishment operator Sands China, to play pre-season video games in Macau, a move that comes as authorities prompt the gambling establishment industry to diversify away from gaming.
The agreement, which was reported by local media outlets on Friday and validated to Reuters by a source with understanding of the deal, sets the scene for an NBA legends star game on Dec. 7 that Sands is due to host at its Venetian property.
The NBA plans to host 2 pre-season video games each year for the next five years at Sands’ Venetian arena. It will begin in October next year, NBA’s deputy commissioner Mark Tatum informed regional media at a press conference in Macau on Friday.
Macau, a special administrative region of China, is the only place in the country where residents have the ability to legally bet in gambling establishments.
It’s federal government and Beijing have been advising the six licensed gambling establishments – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their percentage of earnings from non-gaming.
Macau’s economy is heavily depending on the casino industry which adds to around 80% of regional tax revenue.
In 2015 Macau’s federal government rolled out its very first plan fixated a method where tourism and leisure are the primary pillars, supported by emerging markets consisting of standard Chinese medication, health, monetary services, technology as well as conventions, exhibits, trade, culture and sports.
(Reporting by Farah Master by Shri Navaratnam)
