Macau casino operator Sands China on Tuesday announced it has entered into a procurement deal with its parent company, LVS Group.
Under the agreement, Sands China will act as an agent to procure and provide equipment and supplies from the Asia Pacific to the LVS Group.
The will be achieved by Sands China buying equipment and supplies upon request by the LVS Group, and then selling them to the LVS Group on a cost basis, meaning any costs incurred by the group in providing the equipment and supplies (including wages, time, etc) will be part of the procurement price.
Sands China said the process makes sense due to its experience in procuring equipment and supplies from the Asia Pacific region as well as its existing relationships and agreements that are already in place with its suppliers.
The agreement is set for a term of 2 years, to expire on May 11, 2022.