A former Macau partner of Las Vegas Sands carries out a lawsuit for a failed business that occurred 13 years ago.
US.- Asian American Entertainment, gambling company founded by Taiwanese Shi Sheng Hao, was arranging a partnership with Las Vegas Sands for a casino concession in Macau, when the corporation found out that the American casino operators chose Hong Kong-based Galaxy Entertainment, instead. Now Las Vegas Sands is facing a legal investigation in the District Court in Nevada. Both companies were trying to held a joint venture.
As local media has reported, Las Vegas Sands attempted to stop the lawsuit, but a Macau court approved Hao’s demands and established an accusation of US$5 billion in damages for ending the joint venture and starting a new partnership with Galaxy Entertainment “using details that were exclusive to their previous one,” alleged Hao. Furthermore, the lawsuit demands US$8 billion from the casinos profits collected between 2004 and 2022, calculated from 2015’s profits. The amount responds to the 70 percent of the company’s profits of those years.
Whilst Asian American Entertainment expects a soon public hearing, Las Vegas Sands published: “This case has no merit. We have confidence that ultimately the Macao judicial process will reach the same conclusion.”
This legal battle joins the two previous the American operator is going through. The first lawsuit was introduced by former CEO of Sands China, Steve Jacobs, who claims he was fired for unclear reasons. In addition, Sands ended another trial after Richard Suen, Hong Kong businessman, accused them of owing him US$70 million for boosting the business in Macau, though the Nevada Supreme Court decided there was not enough evidence.