The CEO and President of Sands China (01928.HK), Cheng Junuo, stated that Macao's economy is gradually diversifying, transforming from a Gambling capital into a Sports and Entertainment capital.

Previously, Sands China reached an agreement with the USA National Basketball Association (NBA) to hold two NBA preseason games in Macao next year. Cheng Junuo mentioned that this should not be viewed as a one-time event but rather as a multi-year partnership, with preseason games to be held in the coming years, which he believes will truly enhance Macao's positioning.

He also mentioned that Sands China has made progress on a major project, completing the renovation of the Venetian Arena, which can accommodate 14,000 people, in November. The investment exceeds 0.2 billion USD and will be used not only for exhibitions and meetings but also for concerts and major Sports events, including NBA preseason games, which will enhance Macao as a Global destination for major events.

Cheng Junuo stated that Macao's Gambling revenue has recovered to about 80% of 2019 levels, and visitor numbers reached pre-pandemic levels in August and October.