AAEC (Asian American Entertainment Corp) is suing Macau-based Venetian Macau Ltd, and three United States-based subsidiaries of Las Vegas Sands: LVS (Nevada) International Holdings Inc, Las Vegas Sands LLC and Venetian Casino Resort LLC, asking for MOP96.45 billion (US$11.94 billion) as compensation.
Allegedly that the number represents the lost profits from 2004 to 2018. AAEC also reserved its right to claim for lost profits up to 2022, when Sands China’s Macau casino license expires.
Jorge Menezes, a Macau lawyer representing AAEC, told “I can only confirm that on 15 July 2019 AAEC applied for the claim to be raised to approximately US$12 billion for the period ending in 2018, plus roughly 70 percent of the profits made by Las Vegas Sands from 2019 up to the end of the concession.”
The AAEC case is one of a few separate strands of litigation relating to Las Vegas Sands’ Macau gaming licence. In March, Las Vegas Sands and Chinese businessman Richard Suen reached a settlement for an undisclosed amount of money regarding.
No Copyright infringement intended. Video/Photo Unknown Direct for credits/issue or text us +57 3606412 ... | Respect to Photographers & Influencers
