The next stage in the legal battle was set to take place in September but has been pushed back to June 2021.
Macau.- The legal battle between Las Vegas Sands (LVS) and American Entertainment Corporation (AAEC) over LVS’s gaming licence in Macau has suffered another delay.
MOP96.45 billion (US$11.9 billion) is at stake in the legal battle, which was due to be heard in September.
LVS’s request for a postponement due to the current travel restrictions caused by the Covid-19 pandemic has been accepted, and the dispute will now continue on June 16 2021.
AEC initiated the lawsuit in 2012, claiming that LVC breached agreements made during its successful bid for a Macau casino licence in 2002.
On September 4 last year, AAEC was allowed to increase its initial MOP3 billion claim to MOP96.45 billion (US$12 billion) for lost profits from 2004 to 2018 while reserving its right to claim for lost profits up to 2022 in due course at the enforcement stage. Sands’ appeal over this decision is still pending.