Asian American Entertainment Corp Ltd (AAEC) has sent a letter to the public tender gaming concession in which it questions the financial capacity of the current Sands China-linked concession holder to bid for a local gaming concession, TDM TV reported.
The company headed by Taiwanese businessman Marshal Hao was involved in a longstanding legal battle with three entities connected to U.S. gaming giant Las Vegas Sands Corp (LVS) and Asian American Entertainment Corp Ltd (AAEC), with the Court of First Instance ruling in favour of LVS.
AAEC was seeking compensation of at least MOP60 billion (US$7.5 billion) plus extra from the three affiliates of the U.S. gaming company for breaching their partnership in a bid for a Macau gaming licence two decades ago.
The responsible gaming committee is currently analysing the accepted bids and initiating discussions and consultation with the companies that have been accepted into the race. One of the criteria requested by the commission for bidders to be successful involves holding an adequate financial capacity to sustain their planned development projects and operations.
The seven bidders in this race are: Wynn Resorts (Macau) S.A., Venetian Macau S.A., Melco Resorts (Macau) S.A., MGM Grand Paradise S.A., Galaxy Casino S.A., SJM Resorts S.A. and GMM S.A.
The Macau government aims to have the results of the public tender for the new 10-year gaming concessions to be ready by year-end.
