LVS made an initial premium payment of approximately $106.7 million--towards the aggregate land premium for parcels 1, 2 and 3 of approximately $323.9 million--minus a $24.2–million credit it received for reclamation work and other works done on the land and the installation costs of an electrical substation. The land concession became effective in April. In July, LVS paid approximately $102.2 million for the balance of the land premium payment due on parcel 1. The company is required to make additional land premium payments on the remaining parcels 2 and 3, and annual rent payments relating to all three parcels upon the completion of the corresponding resort or be payable through seven equal semi-annual payments, bearing interest at 5% per annum, to be made over a four-year period, whichever comes first.

The amendment to the land concession resulted in an increase in the annual rent payable to the Macau Government associated with the Four Seasons Macao Hotel from approximately $542,000 to $552,000. In addition, LVS was obligated to pay an additional land premium in consideration of the changes of approximately $17.8 million.

The company does not yet have all the necessary Macao government approvals that it will need in order to develop its planned Cotai Strip developments on parcels 3, 5, 6, 7 and 8 but says it is working toward those approvals. Here is a breakdown of what would occur on those parcels. The information was taken from the company's annual report filed in August.

For Parcel 3, LVS says it has signed a non-binding memorandum of agreement with an independent developer for A 3,600-unit project that would include hotel rooms, serviced luxury vacation suites, a casino and a retail shopping mall. "We are currently negotiating the definitive agreement pursuant to which we will partner with this developer to build a multi-hotel complex, which may include a Cosmopolitan hotel," the company states in the filing. "In addition, we have signed a non-binding letter of intent with Intercontinental Hotels Group to manage hotels under the Intercontinental and Holiday Inn International brands, and serviced luxury vacation suites under the Intercontinental brand, on the site."

Parcel 5 is slated to include a three-hotel complex with approximately 2,450 luxury and mid-scale hotel rooms, serviced luxury apartments, a casino and a retail shopping mall. "We will own the entire development and have entered into a management agreement with Shangri-La Hotels and Resorts to manage two hotels under its Shangri-La and Traders brands," the company states. "In addition, we are negotiating with Starwood Hotels & Resorts Worldwide to manage a hotel and serviced luxury apartments under its St. Regis brand."

Parcel 6 is intended to include a two-hotel complex with approximately 4,000 luxury and mid-scale hotel rooms, a casino and a retail shopping mall physically connected to the mall in the Shangri-La/Traders hotel podium. "We will own the entire development and are negotiating with Starwood Hotels & Resorts Worldwide to manage the hotels under its Sheraton brand," the company states.

Parcels 7 and 8 would each hold a two-hotel complex with approximately 3,000 luxury and mid-scale hotel rooms, serviced luxury vacation suites, a casino and retail shopping malls that are physically connected. "We will own the entire development and have entered into non-binding agreements with Hilton Hotels to manage Hilton and Conrad brand hotels and serviced luxury vacation suites on parcel 7 and Fairmont Raffles Holdings to manage Fairmont and Raffles brand hotel complexes and serviced luxury vacation suites on parcel 8," the company states. "We are currently negotiating definitive agreements with Hilton Hotels and Fairmont Raffles Holdings."