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NBA Inks Multi-year Handle Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The Association (NBA) has signed a multi-year agreement with Macau casino operator Sands China, to play pre-season games in Macau, a move that comes as authorities prompt the gambling establishment market to diversify away from gambling.
The arrangement, which was reported by local media outlets on Friday and confirmed to Reuters by a source with understanding of the offer, sets the scene for an NBA legends celebrity game on Dec. 7 that Sands is because of host at its Venetian residential or commercial property.
The NBA plans to host two pre-season games each year for the next 5 years at Sands’ Venetian arena. It will start in October next year, NBA’s deputy commissioner Mark Tatum told local media at an interview in Macau on Friday.
Macau, a special administrative area of China, is the only place in the country where people are able to lawfully gamble in gambling establishments.
It’s federal government and Beijing have been advising the six licensed casinos – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their proportion of income from non-gaming.
Macau’s economy is greatly depending on the casino industry which contributes to around 80% of local tax profits.
Last year Macau’s government presented its very first plan fixated a method where tourism and leisure are the main pillars, supported by emerging industries including conventional Chinese medicine, health, monetary services, innovation along with conventions, exhibits, trade, culture and sports.
(Reporting by Farah Master Editing by Shri Navaratnam)
