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American casino operator could reportedly be facing a $12 billion penalty after being sued in Macau by former partner Asian American Entertainment Corporation. ....
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 https://str.sg/3ZeB They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. ....
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. ....