The compensation claim is based on two separate reports<\/strong>, including one by consulting firm Ducker Research, which estimated that AAEC lost about MOP 57.9bn between 2002 and 2020.<\/p>\n\n\n\nAnother report, written by Macau economist Jos\u00e9 I. Duarte, put the estimated loss at MOP62bn.<\/p>\n\n\n\n
Menezes said that the compensation amount was not included in the latest financial results of LVS’ Macau business for the first half of 2021 to 2022 as LVS’s 20-year gaming licence in Macau is due to expire in June this year.<\/p>\n\n\n\n
According to Macau Business, Menezes, highlighted an imbalance between the resources of AAEC and LVS and stated\u00a0that nine of the 16 witnesses in the case were LVS former employees<\/strong>. The trial will resume on Wednesday, January 26, when defence attorneys will present their closing arguments.<\/p>\n","protected":false},"excerpt":{"rendered":"AAEC is demanding compensation of at least US$7.5bn to cover lost profits after Las Vegas Sands allegedly breached its contract for a casino licence in Macau.<\/p>\n","protected":false},"author":176,"featured_media":26542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Asian American Entertainment Co Ltd (AAEC) is demanding US$7.5bn in compensation from Las Vegas Sands (LVS) for an alleged breach of contract related to a Macau casino licence in 2002. AAEC claims LVS switched partners, opting for Galaxy Entertainment, resulting in significant lost profits. The lawsuit, initiated in 2012, is nearing its closing arguments, with LVS's Macau gaming licence set to expire this June.","focusai_entities":"Asian American Entertainment Co Ltd, AAEC, Las Vegas Sands, LVS, Galaxy Entertainment, Jorge Menezes, Ducker Research, Jos\u00e9 I. Duarte","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"LVS Liability Impact?","query":"What is Las Vegas Sands' current provision for this contingent liability, and how might an adverse ruling impact its capital allocation strategy for future market expansion or M&A activities?"},{"label":"Contractual Precedents?","query":"What specific contractual clauses are central to AAEC's breach of contract claim, and what precedents might this ruling set for future B2B partnership agreements in regulated gaming markets?"}],"footnotes":""},"categories":[16338,439,158],"tags":[23715,24032,1642],"class_list":["post-26508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-legal-news","category-slider-home","tag-aaec","tag-asian-american-entertainment-corporation","tag-las-vegas-sands"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26508","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=26508"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26508\/revisions"}],"predecessor-version":[{"id":26515,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26508\/revisions\/26515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26542"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}