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Las Vegas Sanda Legal Troubles

Sunday, April 3, 2016 :  MORE LEGAL WOES FOR LAS VEGAS SANDS
 
Adelson-owned Macau operations facing a massive claim by former partner.
 
Sheldon Adelson's Las Vegas Sands operation in Macau faces more legal problems following a Macau court ruling this week that litigation by a former partner can proceed despite an LVS bid to dismiss the case.
 
Launched by Taiwanese businessman Marshall Hao's company Asian American, the lawsuit seeks billions of dollars in damages and accuses LVS of breaking the terms of a former partnership agreement. The suit alleges that LVS and its owner Sheldon Adelson misused trade secrets obtained during the partnership.
 
Hao is asking the court to award his company around 70 percent of Las Vegas Sands' profits between 2004 and 2022, a staggering $8 billion according to Reuters news agency calculations.
 
Responding to the Macau court's rejection of its request that the case be dismissed, LVS said in a statement this week:
 
"The company has consistently maintained that this case has no merit. We have confidence that ultimately the Macao judicial process will reach the same conclusion."
 
Hao’s lawyer Jorge Menezes said the court had not yet set a date, but a hearing should take place in the coming months.
 
Reuters outlines the history of the issue, reporting that the LVS-Asian American partnership submitted a bid for a gaming concession in 2001 in Macau.
 
During the process, Las Vegas Sands dropped Asian American for a new partner, Galaxy Entertainment, a venture that went on to win a Macau licence ten years ago.
 
The Asian American lawsuit claims that after Las Vegas Sands terminated their joint venture, LVS went on to make a near identical bid submission with Galaxy, using details that were exclusive to the prior Asian American partnership.
 
"We are delighted and looking forward to see this dispute adjudicated on the merits for the first time. We have walked a long and difficult path to reach this goal," Hao told Reuters.
 
The news agency observes that the outcome could focus unwanted and negative attention as the Macau government considers whether to extend operator licenses on expiration in 2020.



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Aussie Millions won by Norwegian Jon Kyte and New Zealandís Daniel Smith - In this event, poker players teamed up in pairs to form 79 teams. The teams had to climb their way up to the throne by beating the other teams. A total prize pool of A$80,975 was shared amongst the teams. The Shot Clock Team became particularly popular because the players had to devise their own ingenious strategies so as to reach the top.

ACR $15 Million OSS Cub3d - Americas CardRoom immensely popular OSS Cub3d returns February 25th and it's bigger than ever. U.S. Online Poker players will have a chance to compete for $15 Million in guaranteed prize pools.

AIGF and Betradar formalised their relationship - At this yearís ICE Total Gaming, the All India Gaming Federation (AIGF) and Betradar formalised their relationship, committing to understand, explore opportunities and network across India around sports betting and gaming.

Lionís Roar Slot Pays Progressive at Ignition Casino - Ignition Casino saw a major win in one of their lion-themed slots last week. The recipient was a California slot player named Amber S.

EHF and Sportradar Extend Partnership - The EHF is responsible for a wide range of activities including the promotion and development of the sport, education programmes, player transfers and the organisation of high-profile sports competitions and events including the EHF EURO and the EHF Champions League.

Swisslos and Betradar in Deal - Swisslos offers lotteries, sport bets and instant tickets in the entire territory of German-speaking Switzerland, in Ticino and in the Principality of Liechtenstein. It structures its range of games in an attractive and responsible manner. Swisslos transfers it entire net profit to the mandating cantons and the Principality of Liechtenstein to support public causes.

World Snooker and Sportradar extend partnership - Extending a relationship that started in 2010, World Snooker is delighted to announce the renewal of their official data partnership with Sportradar.

Americas Cardroom offering mouth-watering value - It's not every day that an industry-leading poker site offers its customers an opportunity to put the house's money directly into their own pockets, but that's exactly whatís happening at Americas Cardroom.

Coolbet Joins Mpn - Coolbet, owned by the Estonian company StayCool OU, is a sportsbook driven brand with its own developed platform and sports software. In addition to sports, it offers casino and live casino gaming, and as of this week, poker.

RMG AND SIS EXTEND PARTNERSHIP - RMG manages the rights of many of the leading British racecourses, while SIS holds the horseracing rights to all Irish racecourses, plus Chelmsford City Racecourse in the UK.

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