Las Vegas Sands Gives $15M to UNLV to Establish Chinese Culture Institute

December 09, 2024

Las Vegas Sands has made one of its most significant contributions in recent years. The recipient is the University of Nevada, Las Vegas (UNLV), which obtained a $15 million grant from the casino operator to create the Institute of Chinese Language and Culture. 

On Monday, UNLV acknowledged the receipt of the donation through a public announcement. The Nevada System of Higher Education Board of Regents approved the creation of the Sands Institute for Chinese Language and Culture at UNLV during their quarterly meeting on December 5.

"The Sands Institute for Chinese Language and Culture at UNLV will serve as a vital resource for students, scholars, and the broader community to immerse themselves in the rich cultural heritage of China. We are honored to support an initiative that will enhance Chinese cultural literacy and provide significant opportunities for meaningful intercultural dialogue in one of the world’s most visible cities and one of its most dynamic universities,” said Sands Chairman and Chief Executive Officer Robert Goldstein.

The Sands Institute is set to provide various programs and courses aimed at fostering “appreciation and understanding” of the Chinese language, culture, traditions, and history. Students at UNLV and local residents will have access to Mandarin language courses, along with cultural events including film showings, art displays, musical performances, and exchanges involving students and faculty. 

The institute will be located in the recently renovated Maryland Administrative Building at UNLV. 

Sands Concentrated on Asia 

Even though Las Vegas is included in its name, Sands no longer has ownership or management of any casinos in Las Vegas or anywhere in the United States. 

In 2021, the company sold The Venetian Resort along with its sister property Palazzo for $6.25 billion. The selloff also encompassed the Sands Expo and Convention Center. Sands earlier sold Sands Bethlehem in Pennsylvania for $1.3 billion. 

Sands continues to be the biggest casino operator globally by market capitalization, exceeding $40 billion in value. The company maintains ownership and operates integrated resort (IR) casinos in Macau, China, and Singapore. 

Sands is currently making significant investments in its five IRs located in Macau and Marina Bay Sands in Singapore. 

The firm overseen by Dr. Miriam Adelson, the wife of the company's deceased founder Sheldon Adelson, is investing approximately $8 billion to enhance Marina Bay Sands. The property is regarded as the benchmark of the IR industry, embodying the idea of inclusive resorts where visitors remain on-site and do not have to leave during their entire visit. 

In Macau, Sands plans to invest $3.5 billion primarily in nongaming endeavors. 

US Emphasis 

Back in the U.S., Las Vegas Sands is seeking a casino license at Nassau Coliseum on Long Island, New York. The firm is still advocating for Texas legislators to authorize commercial gambling. 

In late 2023, Dr. Adelson purchased a 73% interest in the NBA's Dallas Mavericks from billionaire Mark Cuban for over $3.5 billion. Cuban, who has long backed the idea of Texas hosting Las Vegas-style casinos, proposed that he and Sands would construct a new NBA arena alongside an IR if Texas law changes to allow slot machines, table games, and sports betting.