The Shenzhen-listed property developer said it is partnering with The Venetian Macao to co-organise and broadcast sports events, tapping into the market in the developed regions of China
Shenzhen-listed Lander Real Estate Co. Ltd. says it has signed a co-operation framework agreement with casino-resort operator The Venetian Macao Ltd. to co-develop the sports business inside and outside Mainland China; in particular, to work together to co-organise and broadcast large-scale sports events.
The news was broken by Lander Real Estate in a filing with the Shenzhen Stock Exchange on Friday, which noted that the company would partner Venetian Macau to develop markets for sports events in both Macau and on the Mainland.
‘The company will actively organise high-quality clients from China to watch co-organised sports events, and to actively promote related commercial activities of The Venetian Macao,’ the filing reads.
The framework partnership agreement was inked by both parties on May 28, according to Lander Real Estate.
‘Both parties would further deepen co-operation to co-organise major sports events of football, basketball, boxing, golf and tennis and the commercial operation in the developed regions of China such as the Yantze River Delta and Pearl River Delta, Lander Real Estate wrote.
Casino-resort The Venetian Macao, owned and operated by Sands China Ltd., is renowned for its hosting of boxing event clashes in Cotai. Sands China has also partnered several sports stars, including two-time Chinese Olympic gold medallist boxer Zou Shiming, former basketball player Yao Ming, golfer Tiger Woods and former football player David Beckham.
Shenzhen-listed Lander Real Estate, which principally engages in property development and distribution, announced its interest in participating in the sports scene here as early as March 16. The company informed the bourse at that time that it was establishing a wholly-owned subsidiary company called Lander (Macau) Culture Sports Broadcasting Co., Ltd. in the city for sports broadcasting with a registered capital of MOP100 million (US$12.8 million).
‘Through the co-operation to operate sports events with The Venetian Macao in future, the company can access rich resources of international sports events,’ Lander International said in its Friday filing. ‘The company will also duly introduce international sports events into China's market and enrich its content.’