Las Vegas Sands 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) April 22, 2008
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):
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On April 22, 2008, the office of the Secretary for Transportation and Public Works for the Macau Special Administrative Region for The Peoples Republic of China (the Macau Government) published an amendment (the Sands Concession Amendment) to the Land Concession by Lease (the Sands Land Concession) between the Macau Government and Venetian Macau, Limited (VML), an indirect wholly-owned subsidiary of Las Vegas Sands Corp. (the Company) with respect to the Sands Macao in Macaus Official Gazette (the Official Gazette).
The Sands Concession Amendment increased the gross construction areas related to the hotel, entertainment, gaming, leisure, retail shopping, restaurant and commercial areas of the Sands Macao by an aggregate of 44,664 square meters and reduced the gross construction areas related to the free or open area by an aggregate of 2,219 square meters to reflect the additional hotel, entertainment, gaming, leisure, retail shopping, restaurant and commercial areas recently added to and opened at the Sands Macao. The Sands Concession Amendment increased the annual rent payable by VML to the Macau Government associated with the Sands Macao from 1,299,000.00 patacas to 1,946,770.00 patacas with respect to the changes in gross construction areas at the Sands Macao. Pursuant to the Sands Concession Amendment, VML was obligated to pay an additional premium in consideration of the changes in gross construction areas aggregating a total of 90,015,160.00 patacas (approximately $11.2 million at exchange rates in effect on March 31, 2008). VML paid the additional land premium in full on March 4, 2008. The other material terms of the Sands Land Concession were unchanged from the original Sands Land Concession dated December 10, 2003.
Upon its publication in the Official Gazette the Sands Concession Amendment to the Sands Land Concession became effective.
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, thereunto duly authorized.
Dated: April 28, 2008