Las Vegas Sands faces $12 billion claim in Macau court

alanyeoinvest

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Las Vegas Sands faces $12 billion claim in Macau court

Farah MasterWed, 9 June 2021, 8:51 am

By Farah Master

HONG KONG (Reuters) – U.S. casino giant Las Vegas Sands is facing a $12 billion lawsuit from a former partner in a Macau court, in a case set to shine a light over how coveted casino licenses were awarded in the world’s biggest gambling hub two decades ago.

Former partner Asian American Entertainment Corporation, headed by Taiwanese businessman Marshall Hao, is seeking damages of around 70% of Sands’ Macau profits from 2004 to 2022. Reuters calculations puts the figure at around $12 billion.

 
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Las Vegas Sands faces $12 billion claim in Macau court

Farah MasterWed, 9 June 2021, 8:51 am

By Farah Master

HONG KONG (Reuters) – U.S. casino giant Las Vegas Sands is facing a $12 billion lawsuit from a former partner in a Macau court, in a case set to shine a light over how coveted casino licenses were awarded in the world’s biggest gambling hub two decades ago.

Former partner Asian American Entertainment Corporation, headed by Taiwanese businessman Marshall Hao, is seeking damages of around 70% of Sands’ Macau profits from 2004 to 2022. Reuters calculations puts the figure at around $12 billion.

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