{"id":26176,"date":"2022-01-12T09:15:05","date_gmt":"2022-01-12T12:15:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=26176"},"modified":"2026-04-23T12:21:04","modified_gmt":"2026-04-23T15:21:04","slug":"aaec-requests-written-testimony-from-former-lvs-president","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/aaec-requests-written-testimony-from-former-lvs-president","title":{"rendered":"AAEC requests written testimony from former LVS president"},"content":{"rendered":"\n

AAEC and LVS agree to request written testimony from former LVS president and CEO William Weidner to check the authenticity of his signature on a memorandum of understanding (MOU) between both companies.<\/p>\n\n\n\n\n\n\n\n

Macau.- In a new chapter of the\u00a0LVS \u2013 AAEC legal battle<\/strong>, Macau\u2019s Court of First Instance has given Asian American Entertainment Corporation (AAEC) five days to demonstrate when and how it came to acquire a memorandum of understanding (MOU) signed between both companies back in 2001.<\/p>\n\n\n\n

Las Vegas Sands and AAEC have agreed to request written testimony<\/strong> from William Weidner, former LVS president and CEO, regarding the authenticity of his signature on the MOU.<\/p>\n\n\n\n

According to the Macau Daily News, the judge in the case has given Weidner ten days to verify the documents. <\/p>\n\n\n\n

Las Vegas Sands has claimed that the MOU submitted to Macau’s gaming regulator 20 years ago was forged and threatened legal action.<\/p>\n\n\n\n

AAEC initiated the lawsuit in 2012, arguing that Sands breached its contract<\/a> for a casino licence in Macau in 2002<\/strong>.<\/p>\n\n\n\n

It is seeking damages calculated at around 70 per cent of Sands\u2019 Macau profits <\/strong>from 2004 to 2022. <\/p>\n\n\n\n

The legal battle is entering its final stages, with the Macau court case set to conclude on January 21. <\/p>\n\n\n\n

Local media reports revealed that the judge also questioned the motives of the parties seeking to file additional documents given the advanced stage of the proceedings.<\/p>\n\n\n\n

A report commissioned by Marshall Hao Shi-Sheng<\/a>, AAEC’s CEO, revealed\u00a0the company may lose up to MOP$57.9bn (US$7.4bn) in profits\u00a0<\/strong>after Las Vegas Sands breached its contract for a\u00a0casino licence in Macau<\/strong>.<\/p>\n\n\n\n

It stated that AAEC\u2019s investment was as much as LVS\u2019s investment in Venetian Macau<\/strong>. It stated that based on initial investment assumptions, AAEC Group invested MOP$252bn in the market.<\/p>\n\n\n\n

As Asia Gaming Brief revealed, the report also stated that the\u00a0MOP$3.6bn paid in gaming tax and MOP$400m in corporate tax have been included in the group\u2019s net profit<\/strong>, so any analysis of damages should not be further revised downward for such items.<\/p>\n","protected":false},"excerpt":{"rendered":"

AAEC and LVS agree to request written testimony from former LVS president and CEO William Weidner to check the authenticity of his signature on a memorandum of understanding (MOU) between both companies.<\/p>\n","protected":false},"author":176,"featured_media":25406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The protracted legal dispute between Las Vegas Sands (LVS) and Asian American Entertainment Corporation (AAEC) in Macau is nearing its conclusion, centered on the authenticity of a 2001 Memorandum of Understanding. AAEC is seeking approximately 70% of LVS's Macau profits from 2004-2022, estimated at US$7.4bn, alleging a breach of a 2002 casino licence contract. The court has requested testimony from former LVS President and CEO William Weidner regarding his signature on the contested MOU.","focusai_entities":"Asian American Entertainment Corporation, AAEC, Las Vegas Sands, LVS, William Weidner, Marshall Hao Shi-Sheng, Macau\u2019s Court of First Instance, Macau\u2019s gaming regulator, Macau Daily News, Asia Gaming Brief","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.98), operator_casino (0.92), investor_analyst (0.97), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"LVS Financial Impact?","query":"What is the projected financial impact on Las Vegas Sands' balance sheet and future earnings guidance if AAEC's US$7.4bn damage claim is upheld by the Macau Court of First Instance?"},{"label":"Regulatory Precedent?","query":"What precedent could this ruling set for the Macau gaming regulator regarding the due diligence and verification of submitted documents for future concession tenders or renewals?"}],"footnotes":""},"categories":[16338,439,158],"tags":[24032,1642],"class_list":["post-26176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-legal-news","category-slider-home","tag-asian-american-entertainment-corporation","tag-las-vegas-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26176","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=26176"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26176\/revisions"}],"predecessor-version":[{"id":26190,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26176\/revisions\/26190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25406"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}