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NBA Inks Multi-year Deal with Macau Casino Sands China To Play In
HONG KONG, Dec 6 (Reuters) – The National Basketball 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 urge the casino market to diversify away from gaming.
The arrangement, which was reported by local media outlets on Friday and verified to Reuters by a source with understanding of the offer, sets the scene for an NBA legends game on Dec. 7 that Sands is because of host at its Venetian property.
The NBA prepares 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 informed regional media at an interview in Macau on Friday.
Macau, a special administrative region of China, is the only place in the nation where citizens have the ability to legally gamble in casinos.
It’s federal government and Beijing have actually been urging the 6 certified gambling establishments – Wynn Macau, Sands China, SJM Holdings, Galaxy Entertainment, Melco and MGM China – to increase their percentage of profits from non-gaming.
Macau’s economy is greatly dependent on the gambling establishment industry which adds to around 80% of regional tax profits.
Last year Macau’s federal government rolled out its very first plan centered on a method where tourism and leisure are the primary pillars, supported by emerging industries including traditional Chinese medication, health, financial services, innovation in addition to conventions, exhibitions, trade, culture and sports.
(Reporting by Farah Master Editing by Shri Navaratnam)
