Asian American Entertainment Corporation which is owned by Taiwanese business Marshall Hao sues Las Vegas sands with a fine of $12 billion in the Macau court.
Hao in his complaint sought damages up to 70% of Sand’s Macau profits for 18 years from 2004 to 2022. The trial is set to start on 16th June.
According to the lawsuit, Sands breached its contract with Hao’s company for a casino license in Macau as per the reports of Reuters.
The allegations first came into notice in the year 2007, when Asian Americans filed a claim back in the United States, however, the case was dismissed due to the statute of limitation.
Asian American Entertainment Corporation filed a second lawsuit in Macau in 2012. Las Vegas Sands and Asian Americans placed their individual bids for a gaming concession together, but Las Vegas Sands switched partners mid-process and teamed up with Galaxy Entertainment instead. Las Vegas Sands submitted a nearly identical proposal with the new partner and received a license to function in Macau.
Hao said, “Asian American have been winning all major legal battles in the Macau lawsuit since we filed it in 2012… we are confident.”
However, Las Vegas Sands maintain their innocence and claim that the case does not have any merit and have taken their own legal action. Las Vegas Sands filed their own motion to dismiss the lawsuit in 2016.
The Macau court has allowed Asian Americans to move forward with their claims.
Despite facing major setbacks, Las Vegas Sands added that the officials have already predicted the outcomes before the case even got filed with the Macau court.
The lawsuit has been filed when Las Vegas Sands revenue has been impacted because the state launched multiple shut down due to the pandemic.