A court case began yesterday in Macau to decide whether a company is entitled to US$12.06bn for what it claims was its role in Las Vegas Sands getting a gaming licence there.
The LVS legal representation claimed that a letter sent to Macau’s chief executive at the time showed that the casino group’s relationship with Asian American Entertainment had already ended on January 15, 2002. It was the following month that the Macau government announced the results of its licence process.
The case was first filed in 2012, but has faced multiple delays. It was brought by Asian American, a company led by Taiwan entrepreneur Marshall Hao Shi-sheng. It is claiming compensation for damages resulting from the alleged breach of agreement during LVS’ successful bid for a Macau casino licence.