financetom
Business
financetom
/
Business
/
NBA to return to China with multiyear deal in Macau
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
NBA to return to China with multiyear deal in Macau
Dec 6, 2024 2:39 AM

*

NBA to host pre-season games in Macau from 2025

*

Deal marks NBA's return to China after 2019 controversy

*

Macau casinos aiming to boost non-gaming revenue

(Rewrites to add context that deal marks NBA's return to China)

By Farah Master

HONG KONG, Dec 6 (Reuters) - The National Basketball Association (NBA) has signed a multiyear deal to play pre-season games in Macau from 2025, marking the league's return to the Chinese market after a years-long absence that followed controversy over the 2019 Hong Kong protests.

Local media quoted NBA Deputy Commissioner Mark Tatum as saying the NBA would host two pre-season games annually for the next five years at casino operator Sands China's ( SCHYF ) Venetian arena in Macau, a special administrative region of China. The first games, scheduled for October of next year, will pit the Brooklyn Nets against the Phoenix Suns.

A source familiar with the matter confirmed the local media reports of the deal. The NBA did not immediately respond to a request for comment.

Although China has recently hosted NBA legends celebrity games, including one scheduled for Saturday at the Venetian property, the pre-season deal will mark a return of regularly scheduled NBA play to China.

The NBA's absence followed a firestorm of controversy around comments five years ago by the Houston Rockets' then-General Manager Daryl Morey, who posted a message on social media in support of anti-government protests in Hong Kong.

Beijing suspended the broadcast of NBA games following that incident, prompting corporate sponsors to flee and the league to suffer what it described at the time as dramatic financial consequences. Pre-season NBA games in China were also scrapped.

In February, Joe Tsai, owner of the Brooklyn Nets basketball team and chairman of Chinese tech company Alibaba, said the incident was water under the bridge and that the NBA would love to bring games back to China and Macau.

Macau is the only place in China where citizens are able to legally gamble in casinos.

Its government and Beijing have been urging the six licensed casinos - Wynn Macau ( WYNMF ), Sands China ( SCHYF ), SJM Holdings, Galaxy Entertainment, Melco and MGM China ( MCHVF ) - to increase their proportion of revenue from non-gaming.

Macau's economy is heavily dependent on the casino industry, which contributes around 80% of local tax revenue.

Last year, Macau's government rolled out its first blueprint centred on a strategy where tourism and leisure are the main pillars, supported by emerging industries such as traditional Chinese medicine, health, financial services and technology, as well as conventions, exhibitions, trade, culture and sports.

It aims for non-gaming industries to account for around 60% of Macau's GDP by 2028 versus 50% pre-pandemic in 2019.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
BRIEF-Herc Holdings Extends Tender Offer To Acquire H&E Equipment Services
BRIEF-Herc Holdings Extends Tender Offer To Acquire H&E Equipment Services
May 25, 2025
April 30 (Reuters) - Herc Holdings Inc ( HRI ): * HERC HOLDINGS EXTENDS TENDER OFFER TO ACQUIRE H&E EQUIPMENT SERVICES * HERC HOLDINGS INC ( HRI ) - OFFER INCLUDES $78.75 CASH AND 0.1287 HERC SHARES PER H&E SHARE * HERC HOLDINGS INC ( HRI ): OFFER EXTENDED UNTIL ONE MINUTE PAST 11:59 P.M. EASTERN TIME, ON MAY 13...
Starbucks earnings disappoint as CEO Niccol's strategy faces US hurdles
Starbucks earnings disappoint as CEO Niccol's strategy faces US hurdles
May 25, 2025
(This April 29 story has been corrected to say that the Siren System store revamp program was launched by Howard Schultz, not Laxman Narasimhan, in paragraph 4) By Juveria Tabassum (Reuters) - Starbucks ( SBUX ) faces challenges in reviving its business, CEO Brian Niccol said on Tuesday, after the coffee giant posted disappointing global comparable sales and profit with...
Qualcomm Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Qualcomm Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
May 25, 2025
QUALCOMM Incorporated ( QCOM ) will release earnings results for the second quarter, after the closing bell on Wednesday, April 30. Analysts expect the Santa Monica, California-based company to report quarterly earnings at 4 cents per share, up from 3 cents per share in the year-ago period. Qualcomm ( QCOM ) projects to report quarterly revenue at $1.35 billion, compared...
Copyright 2023-2026 - www.financetom.com All Rights Reserved