Wilfred Wong: 25 Years Since the Handover Marks a Prosperous Era and a New Starting Point
2024 marks the 75th anniversary of the founding of the People’s Republic of China and the 25th anniversary of the establishment of the Macau Special Administrative Region, as well as the 20th anniversary of the opening of Sands Macao, holding significant meaning for Sands China and Macau. Dr. Wilfred Wong, Executive Vice Chairman of Sands China Ltd., describes the 25 years since Macau’s return as having achieved remarkable accomplishments; having been a crucial part of Macau for over 20 years, he has witnessed the changes of the times. He noted that 25 years ago Macau’s gaming industry was still in the monopoly era. After Macau’s return to the motherland, the SAR government opened up gaming operations to foreign companies and promoted investment and talent training, thereby stimulating innovative ideas and allowing Macau’s economy to take off.
Speaking on the development of Macau’s economy, Dr. Wong points out that the number of visitors entering Macau increased from 7.44 million in 1999 to 29.4 million in 2023, with a peak of 39.4 million in 2019; meanwhile, Macau’s GDP per capita rose from US$15,000 in 1999 to US$69,000 in 2023. These two sets of figures effectively demonstrate the leap in Macau’s economic development.
The 25th Anniversary of the Handover is a New Starting Point for Development
On a related topic, Dr. Wong stated that after Macau’s return, social order has been stable, and past factors of instability have been eliminated. “As long as people have a stable place to live, they will work happily. With comfortable living conditions and a safe environment, many say these 25 years represent a prosperous era; I would say that today, 25 years after the return, we welcome a new starting point for development.” Macau has reached a high point; successive SAR governments have worked hard to create conditions and environments for Macau’s development, proposing various new policies aimed at supporting a moderately diversified economy through the integrated tourism and leisure industry. He believes this trend will continue and is an important direction for development.
Sands China is Committed to Developing Non-Gaming Elements
In 2007, Sands China opened The Venetian Macao, the first integrated resort in Macau, featuring non-gaming facilities such as convention centers, shopping malls, entertainment venues, and theaters, providing visitors with a one-stop experience for accommodation, shopping, and entertainment. The innovative business model it introduced completely changed the development landscape of Cotai. Subsequently, various integrated tourism and leisure enterprises actively constructed non-gaming facilities in Cotai, creating a flourishing environment.
Dr. Wong anticipates that non-gaming sectors will grow rapidly in the future, led by tourism, followed by exhibitions and other industries. Many integrated tourism and leisure enterprises will also implement the “growing with small and medium-sized enterprises (SMEs)” concept, as SMEs account for over 90% of all businesses in Macau and more than 40% of the city’s total employment. Therefore, Sands China’s corporate social responsibility lies in helping SMEs fully take advantage of Macau’s economic gains so that enterprises outside the integrated tourism and leisure sector can also benefit. The past 25 years have laid a solid foundation; it is precisely because leisure enterprises have achieved a certain level of success that they can drive the development of other industries. He believes that future leisure enterprises must align with government policies, as the government has macro considerations including launching the “1+4” strategy for moderate diversification.
Twenty Years of Overcoming Challenges and Moving Forward
Discussing the past 20 years, Dr. Wong says that Sands China has always moved forward courageously, developing from the Macao Peninsula to the Cotai Strip to become the largest integrated tourism and leisure enterprise in Macau. He candidly admitted that Sands China’s journey over the past 20 years has not been completely smooth sailing and the company has certainly faced setbacks; the most significant blow was undoubtedly the financial crisis of 2008. After Sands Macao opened in 2004, Sands China used three years’ worth of its revenue to invest in building The Venetian Macao, which opened in 2007 but faced severe economic difficulties just a year later due to the financial crisis. Fortunately, there was an opportunity to raise funds through an IPO to continue operations and build new projects.
In 2020, the COVID-19 pandemic brought tremendous changes, greatly affecting industries across Macau. Dr. Wong stated that, at that time, the SAR government requested enterprises to ensure local employment; Sands China team members united to weather the storm together while remaining committed to helping society cope with the pandemic. Throughout it all, Sands China was full of confidence about Macau’s future.
Shouldering Social Responsibility During the Pandemic
During the pandemic, Sands China fearlessly took on social responsibilities by providing The Venetian Macao’s Cotai Expo convention center as a testing site for mass nucleic acid testing initiated by the SAR government while mobilizing employees to stay on the frontline against COVID-19. Additionally, the Sheraton Grand Macao Hotel served as a medical observation hotel nine times during the pandemic; later on, The Parisian Macao was used in similar manner. Both hotels provided over 6,000 guest rooms during peak pandemic periods with staff working nearly 7.4 million hours in closed-loop operations.
These actions demonstrated Sands China’s comprehensive support for Macau’s development and stability. The company mobilized its entire organization to cooperate with the SAR government in its COVID-19 measures. Dr. Wong noted that many of the employees who volunteered to help came from the company’s Sands Cares Ambassador Program. This year marks the 15th anniversary of the volunteering program – the first established by an integrated tourism and leisure enterprise in Macau. Initially, there were only 200 volunteer members; now over 3,600 employees have become ambassadors willing to dedicate their spare time outside work to volunteer efforts. As a member of Macau society, Sands China’s confidence in Macau has never wavered; even during three years of pandemic challenges, the company did not significantly cut expenditures nor slow down renovations at The Londoner Macao because it firmly believed that the challenges would eventually pass. Dr. Wong pointed out that the company was looking forward to presenting The Londoner Macao to the world with a fresh appearance after the pandemic and welcoming visitors back to the property; indeed, this strategy was proof of Sands China’s confidence in Macau’s future.
Macau’s True Spirit Revealed During Typhoon Hato
Sands China has accompanied Macau through various storms over many years, enduring both financial crises and a pandemic. Reflecting on the past, Dr. Wong recalls vividly the impact of Typhoon Hato’s severe destruction across Macau. He noted that Macau had never experienced such widespread flooding before; despite facing numerous difficulties as a company, Sands China took on social responsibilities unreservedly by assisting with rescue efforts, repairs, and rebuilding initiatives, while providing educational assistance to children from affected families. During this time, all sectors of society worked together harmoniously; volunteers from all walks of life stepped forward to accelerate the recovery of social order and revitalize the city, reflecting a genuine attitude of mutual aid among Macau residents.
Sands China actively participates in community activities across various community sectors to contribute to long-term prosperity and stability in Macau. Dr. Wong indicated that Sands China carries out its corporate social responsibilities in various ways; for instance, the company has donated over MOP 15.7 million in scholarships to various higher education institutions in Macau since 2006, benefiting over 1,800 local students. The company also launched “Back to School” Recurrent Education Programme that encourage employees to pursue further studies and enhance their competitiveness amid rapid developments in Macau.
In terms of culture and arts, Sands China established Sands Gallery in 2022 as a permanent space for art exhibitions aimed at providing guests with diverse art experiences while promoting sustainable development within local cultural industries. Currently, Sands Gallery is hosting “Echoes of a Golden Age: Macro Events through the Micro Visions of Macao’s Legendary Contemporary Artists” as part of its continuous promotion of the diverse development of the cultural industry, while providing an artistic exchange platform for local and international artists. Dr. Wong also revealed that Sands China will continue bringing art into communities and promoting art appreciation in a variety of accessible ways.
Striving to Assist Various Industries’ Development
Besides art initiatives, Sands China operates the Sands Retail Academy, which helps employees from retail partners at Sands Shoppes Macao acquire training, as these shops account for 40% of Macau’s total retail sales. If mall employees are able to perform at ever higher levels, it will help drive retail development in Macau. The academy is one of eight sub-academies under the larger Sands China Academy, whose targeted beneficiaries include SMEs, employees, and the wider community, as a way to share knowledge and skills with surrounding industries. Currently, there is a need for professional stage lighting and sound technology as Macau aims to develop into a “City of Performing Arts.” Dr. Wong candidly expressed that there are gaps in this area; thus, future plans for developing a “City of Performing Arts,” “Cultural City,” and “Event City” should be shaped under guidance from the SAR government, with the hope that Sands China can support Macau’s progress toward these goals through the company’s resources. He stated that Sands China has sent personnel to the Escola Luso-Chinesa Técnico-Profissional to teach students stage technology and event production.
Continuously Supporting Development of Local SMEs
Sands China currently boasts over 12,000 hotel rooms, 150 restaurants, some of Asia’s top convention centers, more than 720 duty-free shops, two arenas that host international superstar shows, as well as four theaters, among other non-gaming facilities. Over the years, Sands China’s arenas and theaters have hosted more than 740 shows attended by around 4.7 million spectators.
Looking ahead, Dr. Wong says that Sands China will continue its corporate social responsibility initiatives, including supporting the development of local SMEs; the company’s procurement volume from SMEs is expected to be around MOP 3 billion in the first three quarters of 2024. He described that Sands China maintains close ties with SMEs through various initiatives such as the Sands Shopping Carnival, which is aimed at supporting local SME growth by providing free retail booths during the annual weekend shopping festival.
Future Non-Gaming Elements Will Be Rich and Diverse
In addition to culture and arts, Sands China will continue its efforts in sports as another vital non-gaming component. In regards to performance events and exhibitions, the company will continue collaborating with global partners interested in holding exhibitions and conferences in Macau according to SAR government policies. Furthermore, Sands China has plans to expand its convention centers by adding an additional 18,000 square meters of exhibition space connecting to The Venetian Macao’s current exhibition facilities, making it one of Asia’s largest exhibition venues upon completion. The recently upgraded The Venetian Arena has reopened, and will be hosting NBA games as part of its offerings, which already include dozens of concerts and other events each year. The company also plans to transform Le Jardin opposite The Parisian Macao into a unique international garden destination among its rich diversity of non-gaming elements in the works—an endeavor worth looking forward to.
