{"id":19799,"date":"2021-07-02T16:20:37","date_gmt":"2021-07-02T16:20:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19799"},"modified":"2026-04-23T17:59:12","modified_gmt":"2026-04-23T20:59:12","slug":"former-advisor-gives-more-evidence-in-lvs-aec-legal-battle","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/former-advisor-gives-more-evidence-in-lvs-aec-legal-battle","title":{"rendered":"Former advisor gives more evidence in LVS \u2013 AEC legal battle"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A former advisor to Macau\u2019s gaming commission, Carlos Lobo, has given more testimony, stated the relationship between LVS and AAEC was terminated before LVS partnered with Galaxy Entertainment.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.-\u00a0Former gaming advisor <strong>Carlos Lobo<\/strong>\u00a0has given further testimony in court on the relationship between Las Vegas Sands and Asian American Entertainment Corporation (AAEC).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Last week he referred to Macau&#8217;s <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/aaec-lacked-experience-in-casino-sector-court-hears\">tender process<\/a>\u00a0and told the court that\u00a0<strong>AAEC lacked experience in the casino sector, adding that the company also wanted to develop a bank<\/strong>\u00a0in exchange for a gaming concession, which had raised concerns about money laundering.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This week, Lobo said Las Vegas Sands&#8217; experience in gaming gave its venture with Galaxy an advantage in Macau&#8217;s tender. He confirmed\u00a0<strong>once again that the agreement between LVS and AAEC ended before the tender completed\u00a0<\/strong>and that the split was mentioned in the gaming commission\u2019s report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The<strong>&nbsp;trial will resume on September 20&nbsp;<\/strong>with four witnesses called by Las Vegas Sands&#8217; defence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AAEC initiated its lawsuit in 2012, arguing that\u00a0US-based <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/lvs-president-gives-details-on-macau-projects\">Las Vegas Sands breached its contract<\/a>\u00a0for a\u00a0<strong>casino licence in Macau in 2002<\/strong>\u00a0by switching partners. It is seeking\u00a0<strong>damages of around 70 per cent of Sands\u2019 Macau profits\u00a0<\/strong>from 2004 to 2022.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A former advisor to Macau\u2019s gaming commission, Carlos Lobo, has given more testimony, stated the relationship between LVS and AAEC was terminated before LVS partnered with Galaxy Entertainment.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"A former advisor to Macau's gaming commission, Carlos Lobo, testified in the ongoing lawsuit between Las Vegas Sands (LVS) and Asian American Entertainment Corporation (AAEC). Lobo confirmed the LVS-AAEC partnership terminated before LVS joined Galaxy Entertainment for the 2002 Macau gaming concession tender, citing AAEC's lack of experience and concerns over a proposed bank in exchange for a concession. AAEC is seeking substantial damages from LVS for alleged breach of contract.","focusai_entities":"Carlos Lobo, Las Vegas Sands, Asian American Entertainment Corporation, Galaxy Entertainment, Macau\u2019s gaming commission","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.85), payments_fraud_aml (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"LVS Litigation Impact","query":"What is the estimated financial exposure for Las Vegas Sands if AAEC's claim for 70% of Macau profits from 2004-2022 is successful, and what are LVS's primary legal defence strategies?"},{"label":"Macau Tender Integrity","query":"How might the court's findings regarding AAEC's lack of experience and money laundering concerns influence future regulatory scrutiny of gaming concession tenders in Macau?"}],"footnotes":""},"categories":[16338,156],"tags":[23907,1642,23906],"class_list":["post-19799","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-regulation-news","tag-land-based-casino","tag-las-vegas-sands","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19799"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19799\/revisions"}],"predecessor-version":[{"id":19835,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19799\/revisions\/19835"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}