2016
1. 4 1.1 4 1.2 5 1.3 12 2. 19 2.1 19 2.2 21 2.3 27 2.4 34 2.5 46 2.6 54 2.6.1 54 2.6.2 55 2.6.3 56 2.6.4 56 3. 60 3.1 60 3.2 61 3.3 63 3.4 67 3.5 69 3.6 71 3.7 75 3.8 81 3.9 83 3.10 85 4. 105 4.1 105 4.2 110 4.3 116 4.4 194 5. 195 6. 196 7. 197
1.1 12,751 1401,900,000 1,700,000 15,000 2
1.1 3
1.1 6,650,000,000 51,600,000,000 6,820,000,000 52,860,000,000 2.4% 5,300,000,000 41,110,000,000 EBITDA0.9% 2,240,000,000 17,400,000,000 2,220,000,000 17,230,000,000 1,220,000,000 9,490,000,000 1,460,000,000 11,310,000,000 16.1% 1.00 7.75551.00 7.7508 4
1.2 49.5% 2,340,000,0001,600,000,000 2016 15 17 14% 19% 800,000 202016 20163D 2016 5
1.2 2 3 467 26% 50 285,898 2,076720 (35%) 4% 950950,000 60228,000 Big Bang RainTwins Thriller Live 7,800,000 21,000 47 73,700,000 68,100,000 201,300 186,500 15,000 14460 228,000 6
1.2 1,700,000 360 950,000 719,000 34 231,000 916 ISO 9001(ISO 9001 Quality Management System) ISO 20121 (ISO 20121 Event Sustainability System) 201683,000 17,000 2016100,000 2016 95,000 (MIF)56,000 2016 (G2E Asia)11,000 (MIECF)(IPIM) 12,000 360,000 201640,000 36,000 15,000 2016 15,000 7
1.2 2016 2016 50062 2 TTG 2016 Meetings & Conventions 2016 2016 2016 2016 2016 2016 2016 Target TripAdvisor2016 Talk Magazine 2015 2016 DestinAsian Smart Travel Asia Wine Spectator 2016 2016 8
1.2 Hong Kong Tatler 2016 2016 2016 2016 2016 Haute Grandeur 2016 TripAdvisor2016 25 25 2016 2016 2016 DestinAsian Talk Magazine 2015 2016 2016 The 100 Top Tables 2016 2016 Target Wine Spectator 2016 9
1.2 DestinAsian TTG Haute Grandeur TTG2016 2016 2016 Haute Grandeur TripAdvisor2016 2016 2016 DestinAsian The Luxe List 2016 2016 2016 10
1.2 MIPIM2016 2016 2016 Wine Spectator 2016 888 DestinAsian The Luxe List 2016 Canton Business DestinAsian 2016 2016 2016 Wine Spectator 2016 11
1.3 Sheldon Gary Adelson 83 64 Robert Glen Goldstein 61 Charles Daniel Forman 70 49 Victor Patrick Hoog Antink 63 Steven Zygmunt Strasser 68 59 Sheldon Gary Adelson 83 Adelson Adelson LVSLas Vegas Sands, LLC Sands Hotel and CasinoAdelsonLas Vegas Sands, LLC Adelson(Sands Expo and Convention Center) LVS Adelson Adelson COMDEX Trade Shows COMDEX/Fall Trade Show Interface Group Holding Company, Inc. LVS Interface-Group Massachusetts, LLC Adelson (University of New Haven)(Columbia Business School)(Tel Aviv University) (Babson College) Armed Forces Foundation s Patriot Award (Hotel Investment Conference s Innovation Award) (Woodrow Wilson Award for Corporate Citizenship)(American Gaming Association s Hall of Fame) Adelson 12
1.3 64 868 404 2340 13
1.3 Robert Glen Goldstein 61 GoldsteinLVS Las Vegas Sands, LLCLVSGoldstein Goldstein LVS LVS LVSGoldsteinPratt Hotel Corporation Goldstein (Temple University) Goldstein (NASDAQ)Remark Media, Inc.Goldstein Charles Daniel Forman 70Forman LVS Las Vegas Sands, LLC FormanCentric Events Group, LLC Key3Media, Inc. COMDEX ZD Events Inc. Forman Softbank Comdex Inc. Forman The Interface Group COMDEXForman FormanThe Dana-Farber Cancer InstituteForman Forman 14
1.3 49 20 Pacific Alliance Group(Pacific Alliance Equity Partners) Merlin Entertainments Plc. The Kellogg Graduate School of Management Victor Patrick Hoog Antink 63 Hoog Antink South Bank Corporation (Property Industry Foundation) Hoog Antink DEXUS Property Group ASX DXS DEXUS Property GroupHoog Antink Westfield Holdings Limited Hoog AntinkGreenprint Foundation (Property Council of Australia) (Shopping Centre Council of Australia)McIntosh Securities Limited Allco Finance Group LimitedChase Corporation Limited Hill Samuel Limited Hoog Antink Hoog Antink (Property Council of Australia)Hoog Antink3.10(2) Hoog Antink 15
1.3 Steven Zygmunt Strasser 68Strasser 28Strasser (i) Power Efficiency Corporation (ii) Power Efficiency Asia Ltd. StrasserSummit Energy Ventures LLC Strasser (University of Aix-en-Provence)Strasser 59 Harvest Real Estate Investments (Cayman) Limited 3.10(2) 16
1.3 Sheldon Gary Adelson 83 64 41LVS 17
2.1 18
2.1 EBITDA 1.99 16,000,000,000 EBITDA2,240,000,00033.7%6,650,000,000 16% 6% 3,00012% 700900,000 13,000,000,000 13,0002,000,000 186,0002,000,000 186,000 19
2.1 2,000,000,000 74,000,000 8% (Sands China Academy) 29,000 Sheldon G. Adelson 20
2.2 EBITDA VML 800 Cartier Chanel Dior Dolce and Gabbana Giorgio Armani Gucci Hermès Louis Vuitton Rolex Omega Tiffany & Co. Marks and Spencer Isabel Marant Carven Maje Sandro Antonia Uniqlo H&M Valentino Versace Victoria s Secret Zara 12,751191,635 4,493 140 6001,200 1,800 2,100400 1,000,000 253,0003,000 21
2.2 12,0001,700,000 1,900,000 LVS 22
2.2 28,100,000,000 3.4% 31,000,000 15,000,000,00010,000 46.7% 1,000,000,0003,000,000,000 23
2.2 17 2,000 Wynn Resorts Limited 1,700 Publishing and Broadcasting LimitedPBL PBL PBL Hard Rock 1,600 780 JW1,250 1,500 24
2.2 CotaiShuttle 1415 21,000 47 400 42 10 90 24Phantom EWB CotaiShuttle 162 7884 5 10 30CotaiShuttle 25
2.2 5 8 14,600,000 9.9% 16 LVS18 LVSSands Aviation, LLC www.cotaiticketing.com24 Sands Resorts Travel Limited Asian American Entertainment Corporation, LimitedAAEC VML LVS (Nevada) International Holdings, Inc. Las Vegas Sands, LLC Venetian Casino Resort, LLC 3,000,000,000376,000,000 AAEC AAEC VML VML AAEC 26
27 2.3 A B C D E C E B D A
2.3 - (i) 2,841 6,246 2,743 360 238 12,428 64-208 - 51 323 - - - 19-19 1,200,000 369,000 63,000 28,000-1,660,000 1,800 1,701 1,200-650 - 15,000 - - - - - 918,000 407,000 300,000 259,000 16,000 1,900,000 347 137 162 146 13 805 53 51 18 8 10 140 374,000 367,000 253,000 105,000 213,000 1,312,000 (ii) 540 410 382 93 210 1,635 1,265 1,184 1,296 114 634 4,493 (i) (ii) 374,000 540 1,265 The Venetian Las Vegas(St. Mark s Square) (Campanile Tower) (Doge s Palace) 32,000,000 2% 28
2.3 39 2,841 64 64 2,300 8,000 OK 918,000 34050 Calvin Klein Coach Diesel Emporio Armani FossilMassimo Dutti Nike Rimowa Uniqlo H&M Versace Jeans ZaraChopard Franck Muller Glashutte Blancpain LonginesMontblanc Omega Rolex Piaget Tiffany & Co. 1,200,000 810,000 34700,000148118,000 15,0001,800 2,841 64 654 1,2241,842 2,126 400 367,000 410 1,184 369,000 407,000 29
2.3 1,000,000 800,000 550,000 485 90,000 17,700,000 253,000 382 1,296 3,000300,000 160 18 63,0001,200 1104,400,000 30
2.3 360 19 105,000 93 114 259,000 14,100,000 360 1,000,000 10,800,000 5,500,000 289 213,000210 634 31
2.3 32
2.3 25 33
2.4 2.7% 3.0% 16.4% 100% (1) (2) 34
2.4 5,573 5,736 (2.8)% 420 397 5.8% 265 300 (11.7)% 160 151 6.0% 235 236 (0.4)% 6,653 6,820 (2.4)% 6,650,000,000 6,820,000,0002.4% 35
2.4 5,570,000,000 5,740,000,0002.8% 353,000,000 2,474 2,509 (1.4)% 6,856 7,030 (2.5)% 25.2% 24.5% 0.7 28,851 31,025 (7.0)% 3.23% 3.08% 0.15 3,790 4,093 (7.4)% 4.5% 4.8% (0.3) 1,647 1,853 (11.1)% 5,992 6,026 (0.6)% 20.2% 21.5% (1.3) 12,329 19,679 (37.3)% 3.41% 3.08% 0.33 5,794 6,128 (5.5)% 3.6% 3.5% 0.1 (i) 353 % 1,085 % 18.5% 4,061 % 4.24% 974 % 4.5% 442 532 (16.9)% 1,114 1,058 5.3% 21.9% 22.6% (0.7) 9,004 13,390 (32.8)% 3.09% 3.23% (0.14) 414 476 (13.0)% 6.2% 6.1% 0.1 657 842 (22.0)% 2,628 3,035 (13.4)% 18.6% 18.4% 0.2 7,014 9,608 (27.0)% 2.48% 3.36% (0.88) 2,583 2,737 (5.6)% 3.4% 3.5% (0.1) (i) 36
2.4 397,000,000 5.8% 420,000,000 208 205 1.5% 777,413 780,165 (0.4)% 97.6% 97.8% (0.2) 241 223 8.1% (i) 1,326 1,469 (9.7)% 62 62 % 407,065 331,499 22.8% (iii) 96.7% 97.9% (1.2) 128 153 (16.3)% (i) 882 896 (1.6)% (ii) 23 % 299,778 % 92.6% 222 % (i) % 127 130 (2.3)% 259,410 259,394 % 99.3% 99.0% 0.3 452 454 (0.4)% (i) 3,004 3,423 (12.2)% (i) 12 (ii) (iii) 37
2.4 265,000,000 300,000,00011.7% 110 90.5% 182 214 (15.0)% 86.0% 84.0% 2.0 214 243 (11.9)% 184 204 (9.8)% 274 273 0.4% 82.2% 83.1% (0.9) 148 157 (5.7)% 122 131 (6.9)% (i) 36 % 90.5% 138 % 125 % 37 42 (11.9)% 75.3% 82.0% (6.7) 364 376 (3.2)% 274 308 (11.0)% 20 23 (13.0)% 97.1% 99.3% (2.2) 199 220 (9.5)% 193 218 (11.5)% (i) 38
2.4 6.0% 160,000,000 151,000,000 235,000,000 236,000,0000.4% 39
2.4 3,436 3,618 (5.0)% 41 36 13.9% 70 70 % 132 126 4.8% 171 186 (8.1)% 18 17 5.9% 552 559 (1.3)% 131 89 47.2% 128 46 178.3% 611 535 14.2% (1) (1) % 12 20 (40.0)% 5,301 5,301 % 5,300,000,000 3,440,000,000 3,620,000,0005.0% 41,000,000 36,000,00013.9% 132,000,000 126,000,0004.8% 171,000,000 186,000,0008.1% 18,000,000 17,000,0005.9% 552,000,000 559,000,0001.3% 40
2.4 131,000,000 89,000,00047.2% 128,000,000 46,000,000178.3% 611,000,000 535,000,00014.2% 1,000,000 1,000,000 12,000,000 20,000,000 EBITDA (i) 1,092 1,082 0.9% 615 651 (5.5)% 114 % 221 243 (9.1)% 171 225 (24.0)% 31 22 40.9% EBITDA 2,244 2,223 0.9% EBITDA0.9% 2,240,000,000 2,220,000,000 EBITDA 41
2.4 (i) EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDAEBITDA 120 88 36.4% (34) (28) 21.4% 86 60 43.3% 86,000,000 60,000,00032,000,000 6,000,000 1,220,000,000 1,460,000,00016.1% VML 1,000,000,000 25 VML 2,000,000,000 1,280,000,000 3(a)(iii) 3(b) 21 25 26 28 42
2.4 2,346 1,967 (1,149) (1,252) (1,195) (1,968) 2 (1,253) 1,283 2,535 (1) 1 1,284 1,283 19.3% 2,350,000,0001,970,000,000 1,150,000,000 1,020,000,000 132,000,000 1,200,000,000 2,070,000,000VML1,000,000,000 VML1,000,000,000 43
2.4 94 82 123 397 896 746 16 15 18 21 4 4 1,151 1,265 253,000 3,000 300,000 63,000 1,200 1,000,000 265 869 44
2.4 0.99 0.128 7,990,000,0001,030,000,000 1.000.129 8,070,000,0001,040,000,000 6,710,000,0007,040,000,000 45
2.5 LVS LVS 46
2.5 47
2.5 48
2.5 50% 49
2.5 12%VML 12% 12%VML LVS FCPA LVS LVSFCPALVS LVS FCPA 50
2.5 VML VML Sheldon G. Adelson Adelson Adelson 51
2.5 VML VML VMLVML VML VML VML VMLVML VMLVML 52
2.5 16.4% 53
2.6 2.6.1 16,000,000,000 0.01 8,071,130,245 0.01 1 1,000 483 65.01% 221,195 0.00274% 1,001 5,000 177 23.82% 382,780 0.00474% 5,001 10,000 36 4.85% 297,200 0.00368% 10,001 100,000 42 5.65% 1,346,200 0.01668% 100,001 1,000,000 3 0.40% 479,000 0.00594% 1,000,000 2 0.27% 8,068,403,870 99.96622% 743 100.00% 8,071,130,245 100.00000% 47.13% Venetian Venture Development Intermediate II 70.10% 29.90% 100.00% 54
2.6 EBITDA LVS 1,220,000,000 1,460,000,000 16.1% 15.17 1.18 18.09 1.40 16.1% 196 2.6.2 VML 1,000,000,000 25 VML2,000,000,000 55
2.6 2.6.3 2.6.4 27 56
2.6 360 19 58 60 104 28,765 2,246 5sScrum Frequent Work Process (FWP) 2.6.3 56 57
58 2.6
3. 59
3. 3.1 Sheldon G. Adelson 60
3. 1. 2. 3. 4. 5. 6. 7. 8. 3.2 A.2.1 A.2.1 Sheldon Gary AdelsonAdelson 67 61
3. A.4.2 A.4.2 101(3) 3 4(2) 101(3) A.5.1 A.5.1(David Muir Turnbull) Iain Ferguson Bruce A.5.1 Victor Patrick Hoog Antink A.5.1 E.1.2 E.1.2 62
3. 3.3 D.3.1 63
3. 7071 75 12 17 D.3.1 64
3. 65
3. Sheldon Gary Adelson (1) (2) Robert Glen Goldstein Michael Alan Leven (3) Charles Daniel Forman Iain Ferguson Bruce (4) (David Muir Turnbull) (5) Victor Patrick Hoog Antink Steven Zygmunt Strasser (6) (1) (2) (3) (4) (5) (6) 66
3. 3.4 Sheldon Gary Adelson A.2.1Adelson Adelson LVS 67
3. LVS 15 68
3. 3.5 Sheldon Gary Adelson 6/7 / / 1/1 / 0/1 0/1 (1) 7/7 / 1/1 / 6/6 1/1 1/1 (2) 3/3 / / / / / 1/1 Robert Glen Goldstein 6/7 / / / 6/7 0/1 0/1 Michael Alan Leven (3) 0/3 / / / 0/3 / 0/1 Charles Daniel Forman 7/7 / / / / 1/1 0/1 Iain Ferguson Bruce (4) 3/3 3/3 1/1 1/1 / / 0/1 (5) 7/7 8/9 / 0/0 / 1/1 0/1 (David Muir Turnbull) (6) 2/2 / 1/1 1/1 / / 0/1 Victor Patrick Hoog Antink (5) 7/7 9/9 2/2 0/0 7/7 1/1 0/1 Steven Zygmunt Strasser 7/7 9/9 2/2 / / 1/1 1/1 (7) 3/3 1/1 / / / / / (1) (2) (3) (4) (5) (6) (7) 69
3. LVS Robert Glen GoldsteinMichael Alan Leven Steven Zygmunt Strasser Steven Zygmunt Strasser VML Victor Patrick Hoog Antink 70
3. 3.6 Victor Patrick Hoog Antink Steven Zygmunt StrasserVictor Patrick Hoog Antink 69 VML 71
3. Steven Zygmunt Strasser Victor Patrick Hoog Antink(David Muir Turnbull) 3.25 Steven Zygmunt Strasser 69 72
3. LVSRobert Glen Goldstein 73
3. VML VML 7 Sheldon Gary Adelson Victor Patrick Hoog Antink (David Muir Turnbull) Iain Ferguson Bruce A.5.1Victor Patrick Hoog Antink 69 A.5.2 74
3. 1,000,000 10,000,000 Robert Glen Goldstein Victor Patrick Hoog Antink 69 3.7 C.2.1 LVS LVS 75
3. 76
3. 77
3. (Committee of Sponsoring Organizations of the Treadway Commission)COSOLVS LVS 78
3. LVS 79
3. 46 53 80
3. 3.8 (www.sandschina.com) 81
3. 68 183 54 2121 10 183 54 1,000 (i)(ii) 82
3. L2 3.9 13.51B(1) Victor Patrick Hoog Antink Victor Patrick Hoog Antink(Property Industry Foundation) Robert Glen GoldsteinLVS LVS Robert Glen Goldstein100,000150,000 83
3. 10 45LVS LVS 13.09(2)(a) LVS 10-Q 13.09(2)(a)10-Q 2,000,001258,000 8,000,0001,032,000 2 14,000,0011,806,000 20,000,0002,581,000 1 30,000,0013,871,000 36,000,0004,645,000 1 4 84
3. 105 109 1,944 109 2,053 3.10 110 193 19 58 0.99 1.00 1.99 22 85
3. 2,050,000,0001,540,000,000 4,370,000,0003,390,000,000 25 34,000,00028,000,000 9 2,000,0002,000,000 194 86
3. Sheldon Gary Adelson (1) (2) Robert Glen Goldstein Charles Daniel Forman Michael Alan Leven (3) Iain Ferguson Bruce (4) (David Muir Turnbull) (5) Victor Patrick Hoog Antink Steven Zygmunt Strasser (6) (1) (2) (3) Michael Alan Leven (4) Iain Ferguson Bruce (5) (David Muir Turnbull) (6) 87
3. Sheldon Gary Adelson (1) (1) Robert Glen Goldstein (2) Charles Daniel Forman (5) Victor Patrick Hoog Antink (5) Steven Zygmunt Strasser (3) (4) (1) (2) (3) (4) (5) 13.69 88
3. Steven Zygmunt Strasser Charles Daniel Forman Victor Patrick Hoog Antink Steven Zygmunt Strasser100,000 150,000 7 89
3. XV352 XV Sheldon Gary Adelson 5,657,814,885(L) 70.10% 4,000,000(L) (3) 0.05% Sheldon Gary Adelson LVS 66,557,739(L) (1) 8.37% 326,646,577(L) (2) 41.09% Robert Glen Goldstein LVS 2,447,200(L) (4) 0.31% Charles Daniel Forman LVS 216,940(L) (5) 0.03% L (1) (a) 65,996,637 LVS6(b) 67,295LVS(c) 493,807 LVS493,807 27,585 (2) (a) Miriam Adelson 93,779,145 LVS(b)Adelson 1,912,515 LVSAdelson(c)Adelson 485,889 LVSAdelson (d)adelson217,902,318 LVSAdelson (e) Adfam Investment Company LLC 12,566,710 LVSAdelsonAdelson (3) 4,000,0004,000,000266,666 (4) (a) 127,057 LVS6 (b) 2,320,143 LVS2,320,143670,143 90
3. (5) (a) 206,940 LVS6 (b) 10,000 LVS10,000 (6) LVSLVS LVS LVSLVS XV XV78 XV 352 18 XV 91
3. XV336 Sheldon Gary Adelson 5,657,814,885(L) 70.10% Las Vegas Sands Corp. 5,657,814,885(L) 70.10% Las Vegas Sands, LLC 5,657,814,885(L) 70.10% Venetian Casino Resort, LLC 5,657,814,885(L) 70.10% LVS (Nevada) International Holdings, Inc. 5,657,814,885(L) 70.10% LVS Dutch Finance C.V. 5,657,814,885(L) 70.10% LVS Dutch Holding B.V. 5,657,814,885(L) 70.10% Sands IP Asset Management B.V. 5,657,814,885(L) 70.10% Venetian Venture Development Intermediate II 5,657,814,885(L) 70.10% L Venetian Venture Development Intermediate IIVVDI(II)5,657,814,885 70.10% VVDI(II) Sands IP Asset Management B.V.Sands IP Sands IP LVS Dutch Holding B.V.LVS Dutch Holding B.V.LVS Dutch Finance C.V. LVS Dutch Finance C.V. LVS (Nevada) International Holdings, Inc.LVS (Nevada) International Holdings, Inc. Venetian Casino Resort, LLC Venetian Casino Resort, LLC Las Vegas Sands, LLCLas Vegas Sands, LLCLVS Sheldon Gary Adelson AdelsonLVS 54% XV336 17 92
3. 30% 30% LVS LVS LVS LVS LVS LVS LVS LVS LVS LVS I. 14A.76(1) 1. 2. 3. 4. 5. LVS 93
3. II. 14A.76(2) LVS 14A.76(2) LVS LVS LVS 22,700,000 25,800,000 28,300,000 0.1% 5%14A.76(2) 14A LVS LVS LVS 0.1% 14A.76(1) Las Vegas Sands, LLC SCL IP Holdings, LLCLas Vegas Sands, LLCSCL IP Holdings, LLC 94
3. Las Vegas Sands, LLC (a) (b) VML VML LVS LVS (a) 1.5% 1.5%1.5% 20,000,000(b) 20.0% 41.5 49.8 59.7 71.7 86.0 103.2 123.8 (a) 1.5% 20,000,000 (b) 20.0% 95
3. 24.0 28.8 34.6 41.5 49.8 59.7 71.7 (a) 1.5% 20,000,000 (b) 20.0% 20.0 20.0 20.0 20.0 24.0 28.8 34.6 (a) 1.5% 20,000,000 (b) 20.0% 1 2 3 4 5 6 7 20.0 20.0 20.0 24.0 28.8 34.6 41.5 96
3. LVSLVS (1) (1) (1) (1) (2) 13.3 9.7 25.8 (3) 54.6 72.9 85.5 (1) 14A.76(1) (2) 220 (3) LVSLVS 14A.76(1) LVS 22.7 25.8 28.3 97
3. LVS LVS LVS LVS LVS LVS 14A.56 3000 740 14A.56 29 14A 98
3. (i) (ii) (iii) 10% 30% 804,786,508 10% 730,434,376 9% 99
3. 12 1% (i) (ii) 5 (iii) 5 85,286,191 23,265,16123,836,009 100
3. 4,000,000 28.59 28.15 16,876,100 11.63 12.10 2,672,500 13.23 14.32 2,746,300 18.57 19.14 2,530,591 21.73 21.40 1,584,400 22.48 22.80 2,378,500 20.23 20.95 1,434,500 28.23 29.25 1,787,100 28.14 28.90 1,538,100 26.82 27.50 845,000 28.43 28.50 195,100 31.48 31.65 312,000 33.28 34.05 1,486,800 36.73 36.50 1,241,900 40.26 40.45 1,058,500 46.78 47.65 749,600 53.95 54.70 2,602,300 59.35 58.90 3,238,800 62.94 62.25 2,723,800 57.75 57.40 857,100 53.64 53.10 552,500 54.20 54.60 1,063,100 52.33 51.35 195,000 43.27 41.30 4,000,000 266,666 4,000,000 1,055,150 264,175 790,975 29.09 296,950 195,000 101,950 28.00 5,100 5,100 527,271 274,000 253,271 28.36 422,725 422,725 325,750 100,425 225,325 33.18 481,600 200,175 106,800 374,800 34.55 729,900 206,275 729,900 1,366,100 270,775 113,750 422,500 829,850 34.15 260,000 130,000 260,000 195,100 48,775 195,100 38.00 312,000 78,000 312,000 1,340,200 371,700 56,875 153,750 1,129,575 38.00 396,900 99,225 396,900 195,000 195,000 213,600 213,600 2,214,900 537,950 485,600 1,729,300 2,836,200 709,050 202,800 2,633,400 2,357,900 476,900 450,300 1,907,600 585,300 146,325 585,300 552,500 138,125 552,500 868,000 217,000 868,000 195,000 48,750 195,000 101
3. 213,600 38.90 38.50 648,400 35.90 35.30 795,600 33.15 32.80 1,300,000 32.35 32.05 14,819,600 26.97 27.05 2,609,200 31.00 30.35 317,600 27.55 27.25 433,600 34.03 34.45 227,200 34.20 33.55 130,000 23.28 24.20 292,500 20.23 20.95 390,000 31.48 31.65 214,300 53.64 53.10 213,600 53,400 213,600 648,400 162,100 233,000 415,400 795,600 198,900 352,950 117,650 325,000 35.20 1,300,000 325,000 1,300,000 14,819,600 1,042,800 13,776,800 2,609,200 184,800 2,424,400 317,600 89,600 228,000 433,600 31,200 402,400 227,200 227,200 32,500 32,500 146,250 146,250 390,000 97,500 390,000 214,300 214,300 1. (a) (b) (c) 2. 3 4 102
3. 3. (David Alec Andrew Fleming) 130,000 4. 4,000,000266,666 533,334 800,000 800,000 1,600,000 0.73 40.8% 4.4 1.2% 5.5% 3,090,000350,048 284,103 103
3. 183 17 1712 1716 60 Sheldon G. Adelson 104
4.1 110 193 105
4.1 4(c) 18(a) 223,000,000 6 896,000,0002(g) 106
4.1 107
4.1 o o o o o o 108
4.1 James Quigley Harrison 109
4.2 5 6,653 6,820 (2,527) (2,642) 7 (1,121) (1,084) (611) (535) (122) (154) (83) (81) 8 (837) (805) 1,352 1,519 5 3 11 9 (86) (60) 25 (1) 1,268 1,470 10 (44) (11) 1,224 1,459 11 15.17 18.09 11 15.17 18.08 116 193 110
4.2 1,224 1,459 (3) 4 1,221 1,463 116 193 111
4.2 13 1,322 1,278 14 8,111 7,588 16 35 28 17 24 36 31 18 19 22 9,523 8,971 20 14 12 18 352 498 19 10 8 21 1,284 1,283 1,660 1,801 11,183 10,772 112
4.2 22 81 81 23 4,926 5,758 5,007 5,839 24 127 81 25 4,348 3,379 17 47 32 4,522 3,492 24 1,622 1,429 6 6 25 26 6 1,654 1,441 6,176 4,933 11,183 10,772 6 360 9,529 9,331 Sheldon Gary Adelson 116 193 113
4.2 23(i) 23(ii) 81 87 1,397 6 71 5 4,782 6,429 1,459 1,459 4 4 4 1,459 1,463 4 4 (6) (6) 2 (2) (1) 1 19 19 LVS 1 1 (2,071) (2,071) 81 87 1,403 6 82 9 4,171 5,839 1,224 1,224 (3) (3) (3) 1,224 1,221 5 5 (2) (2) 3 (3) (3) 3 14 14 LVS 1 1 12 (2,071) (2,071) 81 87 1,411 6 89 6 3,327 5,007 116 193 114
4.2 27 2,352 1,973 (6) (6) 2,346 1,967 (2) (2) (1,033) (1,109) (100) (142) (18) (14) 1 1 3 14 (1,149) (1,252) 5 4 2,000 999 (1,000) (820) (2,070) (2,071) (4) (5) (32) (12) (94) (63) (1,195) (1,968) 2 (1,253) 1,283 2,535 (1) 1 21 1,284 1,283 1 6 1 2 6 116 193 115
4.3 1. Venetian Venture Development Intermediate II Las Vegas Sands Corp. 22 3 Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands 183 54 116
4.3 2. (a) 4 (b) (c) 117
4.3 2. (c) 32 (d) (e) (i) LVS (ii) 118
4.3 2. (e) (iii) 119
4.3 2. (f) 3 40 (g) 3 15 40 20 3 20 5 6 120
4.3 2. (g) (h) (i) (j) 121
4.3 2. (k) 122
4.3 2. (k) (i) (ii) (l) (m) (n) 123
4.3 2. (o) (p) (q) 2(g) 124
4.3 2. (r) (i) (ii) (iii) 35% 4% 125
4.3 2. (s) (i) 5% 30%100% (ii) (1) (2) LVS LVSLas Vegas Sands Corp. LVS 126
4.3 2. (s) (ii) (iii) (iv) 127
4.3 2. (s) (v) (vi) (t) (u) 128
4.3 2. (v) (w) (i) (ii) (iii) (iv) (v) (vi) 129
4.3 2. (w) (vii) (viii) (ix) (x) (xi) LVS (xii) (x) (y) 130
4.3 2. (z) (i) (ii) (iii) (aa) 131
4.3 3. (a) (i) 509,000,0007,000,000 5010,000,000 8,000,000 503,000,000 2,000,000 132
4.3 3. (a) (i) 1% 17,000,000 13,000,000 1% 9,000,0002,000,000 (ii) 133
4.3 3. (a) (ii) 16.4%23.1% 18 (iii) VML US Finance LLCVMLF VML VML VML VML VML EBITDA 4.0 1.0 3.5 1.0 134
4.3 3. (a) (iii) 136 162 2,362 2,287 4,947 5 5 16 211 237 3 2 3 8 1,326 21 51 39 1,437 62 240 2,980 341 3,623 5 5 16 216 242 3 1 4 1,143 21 38 4 1,206 (b) 22 23 135
4.3 3. (b) 4,294 3,305 (1,284) (1,283) (10) (8) 3,000 2,014 5,007 5,839 8,007 7,853 37.5% 25.7% 4. (a) 136
4.3 4. (b) 36 (c) (d) 37 137
4.3 5. 5,573 5,736 360 344 60 53 265 300 160 151 235 236 6,653 6,820 3 11 6,656 6,831 6. 138
4.3 6. 2,890 2,979 1,944 2,162 409 595 689 679 869 165 149 (i) (29) (28) 6,653 6,820 (i) EBITDA 1,092 1,082 615 651 114 221 243 171 225 31 22 2,244 2,223 EBITDA EBITDA EBITDA EBITDA EBITDA EBITDAEBITDAEBITDA 139
4.3 6. 165 160 294 284 58 40 40 39 37 15 14 611 535 EBITDA EBITDA 2,244 2,223 (i) (15) (19) (a) (128) (86) (b) (127) (45) (611) (535) 1 1 (12) (20) 1,352 1,519 3 11 (86) (60) (1) 1,268 1,470 (44) (11) 1,224 1,459 (i) 3,000,000 1,000,0003,000,000 1,000,000 140
4.3 6. (a) 29(a)(v) 73 55 29(a)(ii) 6 13 6 5 7 11 36 2 128 86 (b) 80 24 15 5 14 5 4 2 29(a)(ii) 4 4 3 2 7 3 127 45 141
4.3 6. 94 82 123 397 896 746 16 15 18 21 4 4 1,151 1,265 2,659 2,961 4,229 4,471 2,745 1,681 992 1,063 317 375 241 221 11,183 10,772 142
4.3 7. 984 950 54 51 35 33 (i) 15 19 33 31 1,121 1,084 (i) 1,000,000 LVS 30 (a) 6,000,0005,000,000 4,000,0005,000,000 1,000,0002,000,000 143
4.3 7. (b) (1) (2) Sheldon Gary Adelson (3) (4) 2,313 1,508 106 639 4,566 (5) 356 13 657 1,026 Robert Glen Goldstein (6) Charles Daniel Forman 112 112 Michael Alan Leven (7) 34 34 112 112 Victor Patrick Hoog Antink 143 143 Steven Zygmunt Strasser 134 134 (8) 59 59 Iain Ferguson Bruce (9) 19 19 (David Muir Turnbull) (10) 24 24 637 2,669 1,508 119 1,296 6,229 144
4.3 7. (b) (1) (2) Sheldon Gary Adelson (3) (5) 906 696 45 996 2,643 Edward Matthew Tracy (11) 422 1,524 478 2,424 Robert Glen Goldstein (6) Michael Alan Leven (7) 130 130 Charles Daniel Forman 100 100 Iain Ferguson Bruce (9) 100 100 100 100 (David Muir Turnbull) (10) 130 130 Victor Patrick Hoog Antink 130 130 Steven Zygmunt Strasser 100 100 790 1,328 696 1,569 1,474 5,857 (1) (2) (3) Sheldon Gary Adelson (4) (5) (6) Robert Glen Goldstein (7) Michael Alan Leven (8) (9) Iain Ferguson Bruce (10) (David Muir Turnbull) (11) Edward Matthew Tracy Sheldon Gary Adelson Robert Glen GoldsteinLVS 2,000,000 3,000,000 1,000,000 10,000,000 LVS 3,000,000 10,000,000 145
4.3 7. (b) LVS (c) 6,206 2,806 2,743 1,584 179 94 9,128 4,484 17,000,0012,194,000 17,500,0002,258,000 2 2 18,000,0012,323,000 18,500,0002,387,000 2 4 2 146
4.3 8. (a) 2,527 2,642 1,121 1,084 611 535 122 154 83 81 (i) 837 805 5,301 5,301 (i) 175 174 127 113 105 119 78 60 64 62 29(a)(ii) 46 54 28 27 18 17 12 20 2 2 (1) (1) 101 122 82 36 837 805 147
4.3 8. (b) 3,436 3,618 41 36 70 70 132 126 171 186 18 17 552 559 131 89 128 46 611 535 (1) (1) 12 20 5,301 5,301 9. 84 52 21 20 6 6 9 10 120 88 (34) (28) 86 60 2.3% 2.8%1.9% 2.2% 148
4.3 10. 5 5 39 6 44 11 39,000,000 6,000,000 (a) 32,0004,000300,00037,500 3% 9%12% 32,000 4,000 600,00075,000600,00075,000 12% 320/2013VML 12% (b) VML VML VML 10(a) 149
4.3 10. (c) 16.5% 1,268 1,470 161 182 (i) (720) (737) (i) (ii) 483 495 (8) (7) 9 32 23 83 50 5 5 (1) 44 11 (i) VML10(a) VML VCL VOL (ii) (ii) 19/78/MaVML VCL VOL 81/89/Ma 150
4.3 11. 1,224 1,459 8,070,042 8,068,742 1,609 1,830 8,071,651 8,070,572 15.17 18.09 (i) 117.65 140.21 15.17 18.08 (i) 117.65 140.13 (i) 1.00 7.75551.00 7.7508 151
4.3 12. 0.990.128 1,030 1.000.129 1,040 0.990.128 1,031 1.000.129 1,040 2,070 2,071 0.99 0.1287,990,000,0001,030,000,000 1.000.129 8,070,000,0001,040,000,000 152
4.3 13. 1,128 210 1,338 (195) (195) 933 210 1,143 933 210 1,143 25 127 152 21 21 (39) (39) 1 1 920 358 1,278 1,153 358 1,511 (233) (233) 920 358 1,278 920 358 1,278 19 74 93 (1) (1) (2) (4) (4) 188 (188) (42) (42) (1) (1) 1,079 243 1,322 1,353 243 1,596 (274) (274) 1,079 243 1,322 153
4.3 13. 8,581 7,581 3 794,000,0001,300,000,000 420 397 43 35 1 1 154
4.3 14. 583 259 6,059 7 39 250 1,174 931 9,302 (68) (87) (1,286) (7) (23) (79) (839) (2,389) 515 172 4,773 16 171 335 931 6,913 515 172 4,773 16 171 335 931 6,913 2 3 1 1 68 1,127 1,202 (1) (1) 1 (1) (15) (1) (1) (4) (21) 10 387 88 (506) (21) (14) (17) (294) (4) (12) (148) (489) 4 1 5 502 165 4,857 12 160 342 1,550 7,588 584 269 6,438 7 38 251 1,306 1,550 10,443 (82) (104) (1,581) (7) (26) (91) (964) (2,855) 502 165 4,857 12 160 342 1,550 7,588 502 165 4,857 12 160 342 1,550 7,588 1 10 1 5 172 911 1,100 (1) (6) (7) (1) (1) (5) (7) 68 2,043 207 (2,318) (15) (19) (345) (5) (13) (163) (560) (3) (3) 487 215 6,561 1 12 147 556 132 8,111 584 338 8,485 8 40 251 1,644 132 11,482 (97) (123) (1,924) (7) (28) (104) (1,088) (3,371) 487 215 6,561 1 12 147 556 132 8,111 934,000,000 28,000,00021,000,00025,000,000 155
4.3 14. 16 11 (8) (6) 8 5 25 26(a) VML 25 156
4.3 15. 18 302 455 19 10 8 21 1,284 1,283 2 2 1,598 1,748 24 1,437 1,206 25 4,374 3,385 5,811 4,591 157
4.3 16. 48 (27) 21 21 14 (7) 28 63 (35) 28 28 18 (2) (9) 35 79 (44) 35 158
4.3 17. 24 (47) (32) (47) (8) (57) 55 (2) (9) 3 (6) (66) 58 (8) (2) (37) (39) (68) 21 (47) 227 186 19 17 246 203 1,839,000,0001,489,000,000 149,000,000155,000,000 1,690,000,0001,334,000,000 159
4.3 18. 466 637 (169) (186) (a) 297 451 5 4 43 40 61 54 (32) (29) (3) 69 65 371 520 (2) (4) (17) (18) (19) (22) 352 498 160
4.3 18. 275 423 26 32 1 302 455 (a) 0 30 195 310 31 60 32 57 61 90 19 35 90 51 49 297 451 7 15 161
4.3 18. (a) 328,000,000 446,000,000 105,000,00082,000,000 223,000,000364,000,000 44.2% 50.9% 3(a)(ii) 111,000,000163,000,000 1 30 32 60 31 60 19 29 61 90 10 46 90 50 28 111 163 162
4.3 18. (a) 192,000,000 245,000,000 169,000,000166,000,000 1 30 3 31 60 3 19 61 90 10 39 90 179 184 192 245 3(a)(ii) 186 180 14 17 (31) (11) 169 186 (b) 4,000,000 163
4.3 19. 1 2 9 6 10 8 0.9%0.9% 87 87 20. 7 6 2 2 2 2 3 2 14 12 164
4.3 21. 506 607 778 676 1,284 1,283 1,155 1,101 82 76 18 14 14 62 10 25 5 5 1,284 1,283 0.55% 1.3%0.4% 1.15% 24 89 7 34 1,101,000,000 1,149,000,000 165
4.3 22. 0.01 16,000,000,000 160 8,067,701,545 81 1,599,300 8,069,300,845 81 1,829,400 8,071,130,245 81 23. (i) Venetian Venture Development Intermediate LimitedVVDIL Cotai Services (HK) Limited (ii) 43210% 25% 377 25% 50% 166
4.3 24. 35 29 560 407 312 271 268 271 246 231 129 119 47 42 29(b) 6 12 146 128 1,749 1,510 (127) (81) 1,622 1,429 802 619 583 537 48 47 4 3 1,437 1,206 167
4.3 24. 0 30 25 20 31 60 5 6 61 90 3 2 90 2 1 35 29 25. 4,368 3,389 26 69 72 26 5 2 4,442 3,463 (94) (84) 4,348 3,379 20 26 3 3 26 3 3 26 6 4,374 3,385 168
4.3 25. 1,957 1,536 1,701 1,292 716 557 4,374 3,385 20 47 179 2,056 2,870 2,265 340 4,388 3,389 4,320,000,000 3,260,000,000 VML VMLFVML VML 3,700,000,0003,200,000,000 VML500,000,000VML 169
4.3 25. VML VML 2,390,000,000 VML VML 2,000,000,000 VML820,000,000 VML 18,000,000VML VML 1,000,000,000VML VMLVML VML VML VML VML3,120,000,000 VML2,120,000,000VML 1,000,000,0001,000,000,000 VMLVMLVML 4,120,000,000VMLVML 269,000,000VML 2,000,000,000 VMLVMLVML VMLVML VML VML 1,000,000 VML2,000,000,000 2,000,000,000 VML 300,000,000 VMLVML VCL VOLVML VMLVML (1)(2) (3) 6,710,000,0007,040,000,000 170
4.3 25. VML VMLVML 2.5% VML 5.0% VML 12.5%VML 20.0%VML VMLVML 2.5% VML 5.0% VML 12.0% VML VML VMLVML VML 0.25% 1.125% 1.25% 2.125% 2.6%VML 0.5%VML 2.1% 1.6% VML VML VMLEBITDA EBITDA 4.0 1.0 3.5 1.0 VMLVML VML 171
4.3 26. (a) 5 5 5 5 16 16 211 216 237 242 (165) (167) 72 75 3 3 3 3 9 9 57 60 72 75 (b) 3 3 2 1 3 1 8 5 3 3 2 1 3 1 8 5 172
4.3 27. 1,268 1,470 (3) (11) 65 40 611 535 21 20 10 8 3 3 12 20 1 18 17 14 20 1 (1) (8) (4) (2) 2 120 114 221 (260) 2,352 1,973 28. (a) (i) 2 3 173
4.3 28. (a) (ii) 360 312 815 698 146 217 1,321 1,227 18,000,00038,000,000 (b) 265 869 (c) (d) 174
4.3 28. (e) VMLVML 30,000,000 4,000,000300,000 150,0001,000 37,555 18,778 125 45,000,000 6,000,000 35%4% 41,000,00021,000,000 175
4.3 28. (f) 176
4.3 29. VVDI (II) LVS LVS (a) (i) LVS 1 2 2 3 3 6 5 LVS 5% (ii) LVS 16 23 10 14 26 37 LVS 5% 177
4.3 29. (a) (ii) 6(a) 6(b) 8(a)(i) 26 37 (1) (4) 25 33 6(a) 6 13 6(b) 4 4 15 16 25 33 25 33 21 21 8(a)(i) 46 54 (iii) LVS LVSLVS 178
4.3 29. (a) (iv) 7 (v) Las Vegas Sands, LLCLVSLLC LVSLLC 1.5% 1.5% 1.5% 20,000,000 20.0% 1.5%20,000,000 LVSLLC 20.0% 73,000,00055,000,000 (vi) LVS 7 30 179
4.3 29. (b) LVS 4 11 2 1 24 6 12 45 30. (a) 804,786,508 10% 742,484,326 (i) (ii) 180
4.3 30. (a) 25,474 5.17 23,250 5.50 18,407 3.56 6,744 3.92 (1,829) 3.06 (1,599) 2.21 (3,867) 5.38 (2,921) 6.49 38,185 4.48 25,474 5.17 11,285 5.07 9,062 4.47 4.184.25 1.01 2.00 893 3.30 1,352 4.36 2.01 3.00 1,085 4.67 1,459 5.63 3.01 4.00 22,624 8.75 6,838 8.46 4.01 5.00 4,715 7.62 5,195 8.33 5.01 6.00 592 6.82 592 7.82 6.01 7.00 2,006 7.55 2,629 8.43 7.01 8.00 3,637 7.27 4,573 8.27 8.01 9.00 2,633 7.21 2,836 8.21 38,185 8.03 25,474 7.97 181
4.3 30. (a) 40.8% 40.4% 4.4 4.0 1.2% 0.7% 5.5% 5.6% 3.50 3.86 3.56 3.92 0.73 0.76 (b) 1,402 7.29 2,971 6.66 119 4.90 (284) 7.13 (1,604) 5.94 (266) 6.76 (84) 7.37 852 7.51 1,402 7.29 182
4.3 30. (b) 798 5.89 284 7.13 1,604 5.94 (846) 5.96 (806) 5.99 236 7.13 798 5.89 284,103 1,603,849 (i) (ii) 1,000,0003,000,000 3,000,0002,000,0001,000,000 1,000,000 (c) LVS LVS 183
4.3 30. (c) LVS LVS LVS LVS LVS LVS 26,344,000 LVS LVS LVS 3,240,403 LVS LVS LVS LVS LVS 184
4.3 30. (c) LVS LVS 547 70.33 497 70.39 (i) 77 61.58 (3) 36.55 (13) 13.83 (i) (47) 59.51 (140) 72.51 (14) 78.72 357 71.20 547 70.33 335 71.63 505 70.96 (i) LVS 185
4.3 30. (c) LVS 20.01 30.00 24 3.38 31 4.40 30.01 40.00 10 0.92 40.01 50.00 10 0.12 50.01 60.00 24 6.28 60.01 70.00 102 2.90 134 3.52 70.01 80.00 103 0.37 187 1.27 80.01 90.00 118 1.22 136 2.23 90.01 100.00 5 0.65 5 1.65 110.01 120.00 5 0.86 10 1.86 357 1.59 547 2.44 36.55 13.83 3,300 13,400LVS49.96 57.96 186
4.3 30. (d) LVS LVS LVS LVS 46 62.73 13 56.30 1 54.99 (i) 35 64.78 (11) 56.07 (1) 76.18 (2) 47.14 35 64.78 46 62.73 (i) LVS 187
4.3 31. 1,687 1,601 1,687 1,601 554 168 47 20 601 188 2,288 1,789 81 81 (a) 2,198 1,687 2,279 1,768 9 21 9 21 2,288 1,789 592 167 2,279 1,768 Sheldon Gary Adelson 188
4.3 31. (a) 106 1,397 34 (2) (67) 1,468 2,272 2,272 1 1 1 2,272 2,273 4 4 (6) (6) 2 (2) (1) 1 19 19 (2,071) (2,071) 106 1,403 44 (1) 135 1,687 2,567 2,567 (2) (2) (2) 2,567 2,565 5 5 (2) (2) 3 (3) (3) 3 14 14 12 (2,071) (2,071) 106 1,411 50 (3) 634 2,198 189
4.3 32. Venetian Venture Development Intermediate Limited 1 100% SCL IP Holdings, LLC 100 100% 10,000,000 100% 2 4,100,000 3,121,000 100% 100% 7 8 100,000 100% Cotai Services (HK) Limited 1 100% CotaiJet 311 Ltd. 1 100% CotaiJet 312 Ltd. 1 100% CotaiJet 313 Ltd. 1 100% 190
4.3 32. CotaiJet 314 Ltd. 1 100% CotaiJet 315 Ltd. 1 100% CotaiJet 316 Ltd. 1 100% CotaiJet 317 Ltd. 1 100% CotaiJet 318 Ltd. 1 100% CotaiJet 319 Ltd. 1 100% CotaiJet 320 Ltd. 1 100% CotaiJet 350 Ltd. 1 100% CotaiJet 351 Ltd. 1 100% CotaiJet 352 Ltd. 1 100% CotaiJet 353 Ltd. 1 100% Cotaiwaterjet Sea Bridge 1 Ltd. 1 100% Cotaiwaterjet Sea Bridge 2 Ltd. 1 100% 191
4.3 32. Sands Cotai East Holdings Limited 1 100% Sands Cotai West Holdings Limited 1 100% Sands Resorts Travel Limited 500,000 100% 1,000,000 100% 500,000 100% 200,000,000 100% Venetian Macau Finance Company 1 100% (i) 200,000,000 100% 100,000 100% 1,500,000 100% 2,400,000 100% V-HK Services Limited VML 1 100% 192
4.3 32. VML US Finance LLC 100% (ii) 800,000 100% (ii) 4,500,000 100% (i) 10% VVDIL 100% (ii) 193
4.4 6,511 8,908 9,505 6,820 6,653 1,281 2,290 2,624 1,519 1,352 1,238 2,217 2,556 1,470 1,268 (2) (2) (8) (11) (44) 1,236 2,215 2,548 1,459 1,224 7,634 7,682 8,153 8,971 9,523 2,753 3,784 3,195 1,801 1,660 10,387 11,466 11,348 10,772 11,183 5,586 6,450 6,429 5,839 5,007 3,247 3,083 3,299 3,492 4,522 1,554 1,933 1,620 1,441 1,654 4,801 5,016 4,919 4,933 6,176 10,387 11,466 11,348 10,772 11,183 194
5. Sheldon Gary Adelson Robert Glen Goldstein Charles Daniel Forman Victor Patrick Hoog Antink Steven Zygmunt Strasser Intertrust Corporate Services (Cayman) Limited 190 Elgin Avenue George Town, Grand Cayman KY1-9005 Cayman Islands L2 183 54 www.sandschina.com Victor Patrick Hoog Antink Steven Zygmunt Strasser Steven Zygmunt Strasser Victor Patrick Hoog Antink Sheldon Gary Adelson Victor Patrick Hoog Antink Robert Glen Goldstein Victor Patrick Hoog Antink Intertrust Corporate Services (Cayman) Limited 190 Elgin Avenue George Town, Grand Cayman KY1-9005 Cayman Islands 183 17 1712 1716 22 1928 195
6. www.sandschina.com (a) (b) 183 17Msandschina.ecom@computershare.com.hk 183 17 1712 1716 +852 2862 8628 +852 2865 0990 hkinfo@computershare.com.hk 183 54 +853 8118 2888 +853 2888 3382 scl-enquiries@sands.com.mo 196
7. EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA EBITDAEBITDA EBITDA LVSEBITDA 197
7. 14 VML LVS 198
7. EBITDA 1.00 7.7555 1.00 7.9882 1.00 1.03 VMLLVS Las Vegas Sands, LLC Venetian Casino Resort, LLC Four Seasons Hotels Limited FS Macau Lda. Galaxy Casino Company Limited 5/2004 6/2002 10.38 199
7. LVS Las Vegas Sands Corp. LVS LVS 200
7. MGM Grand Paradise Limited 10 290,562 23225 53,303 23223 61,681 23224 23288150,134 44,576 www.sandschina.com 201
7. 654 1,224 1,796 2,067 105 400 Las Vegas Sands, LLC SCL IP Holdings, LLC 571 LVS 0.01 202
7. VML VML 21 (i) (ii)vml(iii) (iv) 15,000 203
7. VML Venetian Macau Limited VOL VVDIL Venetian Venture Development Intermediate Limited VVDI (II) Venetian Venture Development Intermediate II LVS 204
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