Las Vegas Sands has been slapped with a $12 billion law suit by Asian American Entertainment Corporation, controlled by Taiwanese businessman Marshall Hao.
The suit has been filed in Macau court by Hao, who is former partner of Sands when the two had come together for acquiring a casino license in Macau.
It has been alleged in the suit that Sands breached the contract with Hao’s company by switching partners mid-process.
Reportedly, Asian American and Sands had submitted a bid for a gaming concession together for Macau casino license but the Sands later teamed up with Galaxy Entertainment. Allegedly, Sands not only switched partners mid-process but also submitted a similar proposal and acquired the casino license.
According to reports, Hao is allegedly seeking damages of around 70% of Sands’ Macau profits for the past 18 years, from 2004 to 2022.
Earlier the suit was filed in 2007 in the US but it was dismissed for being barred under Statute of Limitation.
As per Gambling Insider, Hao said: “Asian American has been winning all major legal battles in the Macau lawsuit since we filed it in 2012… we are confident.”