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The Straits Times
MBS owner Las Vegas Sands faces $15.9 billion claim in Macau court
The trial, starting June 16, alleges that Sands breached its contract with Asian American for a casino licence in Macau.PHOTO: BLOOMBERG
PublishedJun 9, 2021, 9:01 am SGT
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Las Vegas Sands Faces $12 Bln Lawsuit In Macau Court
BEIJING (dpa-AFX) - U.S. casino major Las Vegas Sands is facing around $12 billion lawsuit from former partner Asian American Entertainment Corp. in a Macau court for alleged breach of contract, Reuters reported. The trial will start on June 16.
Taiwanese businessman Marshall Hao s Asian American is seeking damages of around 70% of Sands Macau profits from 2004 to 2022. It alleges that Sands breached its contract for a casino license in Macau, which is the only legal gambling destination in China.
As per the lawsuit, Sands and Asian American jointly submitted a bid for a gaming concession in 2001. However, Sands switched partners during the process and teamed up with Hong Kong group Galaxy Entertainment, and won the license in Macau.