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Las Vegas Sands and Marina Bay Sands Welcome The Food Bank Singapore into the Sands Cares Accelerator

1. LVS partners with The Food Bank Singapore for a three-year program. 2. The Food Bank Singapore receives $300,000 to enhance its food distribution program. 3. Marina Bay Sands has a decade-long partnership with The Food Bank Singapore. 4. The Sands Cares Accelerator program aims to scale community impact via nonprofit support. 5. LVS emphasizes corporate social responsibility through initiatives like the Sands Cares Accelerator.

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Why Bullish?

LVS's investment in community initiatives can enhance brand image and loyalty, historically leading to stock appreciation.

How important is it?

The partnership showcases LVS's commitment to CSR, likely improving public perception and sales.

Why Long Term?

Ongoing CSR initiatives can foster sustainable community relations, potentially leading to long-term financial growth.

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The resort's long-time partner enters the exclusive program to build its Bank Card Program through targeted funding, strategic guidance and mentorship over three years. , /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) and Marina Bay Sands today announced that The Food Bank Singapore has joined Sands Cares Accelerator, a three-year membership program aimed at advancing nonprofits to deliver greater community impact. During its time in the Sands Cares Accelerator, The Food Bank Singapore will focus on expanding its Bank Card Program, which aims to better serve beneficiaries by simplifying the food distribution process. The nonprofit will receive $100,000 annually for the three years of membership, along with structured guidance, and strategic counsel and mentorship from Sands and Marina Bay Sands to help achieve its Bank Card Program goals and make it sustainable upon completion of the Sands Cares Accelerator. "Joining the Sands Cares Accelerator will enable us to substantially scale an effective way to serve vulnerable members of our community while emphasizing the importance of nutrition," Dr. Arthur Chin, executive director at The Food Bank Singapore, said. "Marina Bay Sands has been an invaluable longstanding partner to our organization for nearly 10 years, and we are grateful that they recognized our potential to improve this offering and, ultimately, increase our impact in the community as we work toward our overarching goal of eliminating food waste and redirecting surplus food to nourish the community in Singapore." At present, The Food Bank Singapore's Bank Card Program helps beneficiaries receive food aid from more than 300 feeding partners through smart wallets that are pre-loaded with monthly virtual credits. The program currently requires distribution partners to manually issue and track physical cards, which entails associated costs for maintaining them. With support from the Sands Cares Accelerator, the nonprofit organization plans to digitize its processes for operational and cost efficiency, and increase its outreach to more beneficiaries, particularly youths in tertiary institutions. The Food Bank Singapore is the seventh organization to join the Sands Cares Accelerator, which Sands launched in 2017 to help fast-track nonprofit organizations on the tipping point of making a leap in community impact. During the three-year membership, Sands and its resorts create longer-term relationships with nonprofits via extended funding, structured guidance and customized support rarely found with typical corporate-nonprofit engagements. "With more than $1.6 million invested, hundreds of hours in facilitation and consulting, and five successful graduates, the Sands Cares Accelerator has become one of our most impactful programs," Ron Reese, senior vice president of global communications and corporate affairs, said. "We're looking forward to seeing the progress The Food Bank Singapore will make using these resources and congratulate the organization on being selected as our second Singapore member." Since 2012, The Food Bank Singapore has worked to increase food sustainability in Singapore by acquiring donated food from food wholesalers and distributors, supermarkets and retail stores, as well as from individuals through food drives. The food is redistributed to people facing hardship through a network of member beneficiaries comprising more than 300 feeding partners across Singapore, including family centers, residential care homes and welfare organizations. Through this network, The Food Bank Singapore redistributes over two million meals to vulnerable families and individuals annually. Marina Bay Sands has partnered with The Food Bank Singapore since 2016 in a variety of engagements. The resort provides ongoing donations of unserved banquet food from the Marina Bay Sands Expo and Convention Centre, while Team Members regularly volunteer in the organization's warehouse to sort food donations and take inventory. In addition, Marina Bay Sands held its fourth annual Sands Cares Global Food Kit Build with The Food Bank Singapore yesterday. Approximately 300 Team Members, retail tenants and Sands Hospitality Scholarship Program recipients assembled 6,000 kits, which included biscuits, rice and canned food. "The Food Bank Singapore has been an esteemed community partner for Marina Bay Sands for nearly a decade, uniting our Team Members to support its cause through volunteerism and in-kind donations," Paul Town, chief operating officer, Marina Bay Sands, said. "We know the resources available through the Sands Cares Accelerator will further strengthen the organization for the future. We are looking forward to the next three years of witnessing various milestones with The Food Bank Singapore as it scales up its bank card program for vulnerable communities by deploying technology and innovation." Inspired by the entrepreneurial and philanthropic spirit of Sands' founder Sheldon G. Adelson, the Sands Cares Accelerator carries on his legacy of building successful businesses and giving back to communities with greater corporate involvement to help advance the capabilities of nonprofit organizations so they can better address the needs of their communities. During the three-year membership, nonprofits focus on building their capacity in a strategic area or enhancing a program offering to better serve the community. Sands serves as a catalyst and mentor for helping organizations achieve their goals. Other Sands Cares Accelerator members have included The LGBTQ+ Center of Southern Nevada (current member), Green Our Planet (graduate), Nevada Partnership for Homeless Youth (graduate) and the Inspiring Children Foundation (graduate) in Las Vegas; Art Outreach (graduate) in Singapore; and Green Future (graduate) in Macao. To learn more about the Sands Cares Accelerator, please visit https://www.sands.com/responsibility/communities/#our-program-sands-cares.    About Sands (NYSE: LVS)Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit. Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian Macao®, The Plaza Macao and Four Seasons Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd. Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Sustainability Indices for World and North America. To learn more, visit www.sands.com. About Marina Bay Sands Pte Ltd Since its opening in 2010, Marina Bay Sands has stood as an architectural marvel and the crown jewel in Singapore's skyline. Home to the world's most spectacular rooftop infinity pool and approximately 1,850 rooms and suites, the integrated resort offers exceptional dining, shopping, meeting and entertainment choices, complete with a year-round calendar of signature events. Marina Bay Sands is dedicated to being a good corporate citizen to serve its people, communities and environment. It drives social impact through its community engagement program, Sands Cares, and leads environmental stewardship through its global sustainability program, Sands ECO360. For more information, please visit www.marinabaysands.com. About The Food Bank Singapore Established in 2012, The Food Bank Singapore (http://www.foodbank.sg/) is Singapore's first food bank and aims to be the prevailing centralized coordinating organization for all food donations in Singapore. Driven by its mission to eradicate food insecurity of all forms in Singapore, the registered charity bridges potential donors and member beneficiaries by collecting and redistributing donated food. Its members are registered charity organizations or special organizations with a designated meal program for low-income and underprivileged individuals and families. Through a network of more than 300 such organizations of all sizes, the food bank serves more than 100,000 families and over 300,000 people with all kinds of food – from fresh to cooked. SOURCE Las Vegas Sands Corp. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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