A former advisor to Macau’s gaming commission, Carlos Lobo, has given more testimony, stated the relationship between LVS and AAEC was terminated before LVS partnered with Galaxy Entertainment.
Macau.- Former gaming advisor Carlos Lobo has given further testimony in court on the relationship between Las Vegas Sands and Asian American Entertainment Corporation (AAEC).
Last week he referred to Macau’s tender process and told the court that AAEC lacked experience in the casino sector, adding that the company also wanted to develop a bank in exchange for a gaming concession, which had raised concerns about money laundering.
This week, Lobo said Las Vegas Sands’ experience in gaming gave its venture with Galaxy an advantage in Macau’s tender. He confirmed once again that the agreement between LVS and AAEC ended before the tender completed and that the split was mentioned in the gaming commission’s report.
The trial will resume on September 20 with four witnesses called by Las Vegas Sands’ defence.
AAEC initiated its lawsuit in 2012, arguing that US-based Las Vegas Sands breached its contract for a casino licence in Macau in 2002 by switching partners. It is seeking damages of around 70 per cent of Sands’ Macau profits from 2004 to 2022.