Las Vegas Sands Corp 8-K, filed Dec 30, 2022
Las Vegas Sands Corp (LVS)
8-K
2022-12-30
For: 2022-12-30
View Original
Added on
April 03, 2026
About this 8-K
Las Vegas Sands Corp filed this 8-K on December 30, 2022.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) December 30, 2022
| (Exact name of registrant as specified in its charter) | ||||||||
| (State or other jurisdiction of incorporation) | ||||||||
| (Commission File Number) | (IRS Employer Identification No.) | |||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(702 ) 923-9000
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Securities registered pursuant to Section 12(b) of the Act: | ||||||||||||||||||||||||||
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| ITEM 1.01. | Entry into a Material Definitive Agreement. | ||||
On December 30, 2022, Venetian Macau Limited (“VML”), Venetian Cotai Limited, Venetian Orient Limited and Cotai Strip Lot 2 Apart Hotel (Macau) Limited, each of which is an indirect subsidiary of Las Vegas Sands Corp. (the “Company”), entered into a series of public deeds (the “Deeds of Reversion”) with Macao, in connection with VML’s award of a gaming concession for the operation of casino games of chance in Macao on December 16, 2022 (the “Concession”).
Additionally, on December 30, 2022, VML entered into a Handover Record (the “Handover Record”) with Macao, also in connection with VML’s award of the Concession.
Terms of Deed of Reversion
The Deeds of Reversion provide for the reversion of the games of chance areas and games of chance supporting areas at our integrated resorts in Macao (the “Relevant Areas”) (along with gaming equipment and utensils) to Macao without compensation and free of any liens or charges with effect from December 31, 2022. Pursuant to the Deeds of Reversion and the Handover Record, in order to continue to use the Relevant Areas (along with gaming equipment and utensils), VML shall pay to Macao the annual compensation detailed in the Handover Record as set out below.
Terms of Handover Record
Under the Handover Record, VML may continue to use the Relevant Areas (along with gaming equipment and utensils) for the operation of casino games of chance.
Certain principal terms of the Handover Record are as follows:
| Premises involved | : | the Relevant Areas (along with gaming equipment and utensils) | ||||||
| Annual compensation | : | (i)for the first year of the Concession term, MOP750 (approximately US$93) per square meter; (ii)for the second and third years of the Concession term, the annual compensation shall be adjusted based on the Macao average price index for the preceding year in accordance with Article 39(2) of Macao’s gaming law (the “Gaming Law”); (iii)for the fourth year of the Concession term, MOP2,500 (approximately US$311) per square meter; and (iv)for the remainder of the Concession term, the annual compensation shall be adjusted based on the Macao average price index for the preceding year in accordance with Article 39(2) of the Gaming Law. | ||||||
The foregoing summary of the Deeds of Reversion and the Handover Record is not complete and is qualified in its entirety by reference to the full and complete text of the Deeds of Reversion and the Handover Record, a copy of which will be each filed as an exhibit to the Company’s Annual Report on Form 10-K for the period ending December 31, 2022 to be filed with the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: December 30, 2022
| LAS VEGAS SANDS CORP. | |||||||||||
| By: | /S/ D. ZACHARY HUDSON | ||||||||||
| Name: D. Zachary Hudson Title: Executive Vice President, Global General Counsel and Secretary | |||||||||||