Las Vegas Sands is facing a $12 billion lawsuit in a Macau court.
Sand’s former partner Asian American Entertainment Corporation, which is controlled by Taiwanese businessman Marshall Hao, alleges that Sands breached their contract in order to obtain a casino license in Macau.
Hao is seeking damages of around 70% of Sands’ Macau profits for the past 18 years, from 2004 to 2022. The trial is set to start on June 16.
The allegations first came to light in 2007, when Asian American filed a claim back in the US; however, it was dismissed due to the statute of limitations.
The second lawsuit was filed in Macau in 2012. Hao’s company claims that in 2001, Asian American and Sands submitted a bid for a gaming concession together, but Sands switched partners mid-process, teaming up with Galaxy Entertainment instead; Sands submitted a near-identical proposal with the new partner and received a license to operate in Macau.
“Asian American has been winning all major legal battles in the Macau lawsuit since we filed it in 2012… we are confident,” said Hao.
However, Sands maintains the case has no merit and has sought legal action of its own, filing a motion to dismiss the lawsuit in 2016. The Macau court, though, has allowed Asian American to proceed with the claim.