Court rules in favor of Las Vegas Sands in US$12 billion battle with former Macau partner

Macau’s Court of First Instance has ruled in favor of Las Vegas Sands Corp (LVS) in a long-running battle against its original Macau partner, Asian American Entertainment Corporation (AAEC).

According to sources, the decision was issued on Thursday and was unanimous in its findings in favor of LVS, with the court also said to have scolded AAEC for acting in bad faith. Court documents are expected to be made public in the coming days.

Headed by Taiwanese businessman Marshall Hao, AAEC had been seeking around MOP$96.5 billion (US$12.1 billion) as compensation for alleged breach of contract after LVS exited their joint bid for a Macau casino license in 2002 and linked with Galaxy Entertainment Group instead. The LVS-Galaxy bid ultimately proved successful but never came to fruition, their high-profile split leaving Galaxy with the gaming concession and LVS with Macau’s first sub-concession.

Source: https://www.asgam.com/index.php/2022/05/01/court-rules-in-favor-of-las-vegas-sands-in-us12-billion-battle-with-former-macau-partner/