The Court of First Instance has ruled in favour of Las Vegas Sands Corp (LVS) in the case brought by Asian American Entertainment Corp Ltd (AAEC).
Macau.- The legal battle between Las Vegas Sands and Asian American Entertainment Corp appears to be over for now with a judgement in LVS’s favour. The Court of First Instance has ruled in favour of LVS in a case that began two decades ago.
AAEC was claiming US$7.5bn from LVS for breach of contract. The two companies had signed a partnership in October 2001 with a view to exploring a potential bid for a Macau concession, however, LVS ultimately partnered with Galaxy Entertainment, with whom it won a licence.
LVS’s lawyer claimed that AAEC was the first to break up the partnership and trade with rivals including Hong Kong entrepreneur Lui Che Woo. The lawyer also denied the other party’s claim that Las Vegas Sands gave Galaxy Casino SA access to confidential bidding documents prepared by Asian American Entertainment.
He said the final bid, which originally combined the capabilities of Las Vegas Sands and Galaxy Casino SA, was based entirely on the US group’s resort business model for the Venetian Las Vegas casino in Las Vegas, Nevada.
In February, Judge Seng Ioi Man, sitting at Macau’s Court of First Instance, said there was no proof that AAEC had a definitive agreement to tie with LVS to bid for a Macau gaming concession.
AAEC attorney Jorge Menezes told local media he would appeal the decision.