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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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GAN Partners with Station Casinos -
B2B online gaming company GAN (formerly Game Account Network) has revealed Station Casinos as its previously unidentified partner in an announcement made August 2016
Oceanís Call Slot Launches -
Online gambling games developer Habanero has embarked on a journey across the high seas to bring players its latest HTML5 high resolution slot title, Oceanís Call.
Big Names Playing WCOOP -
The big names came out to play in the closing stages of the World Championship of Online Poker this week as major prizes were handed out in a number of exciting and entertaining competitions.
Sirplay to Open Argentina Branch -
#SirPlay expects the new office to be fully operational by early next year, extending its service to Grupo Slots, which holds a license to operate the provincial San Luis Lottery, and other potential LatAm clients.
DFS Changes for Ohio -
#dfs Coley says that at present DFS is an example of the "pools for profit" concept, the rules for which the state Attorney General has opined are unclear in relation to DFS.
New Jersey Teams Up With Kahnawake Gaming Commission -
The New Jersey Division of Gaming Enforcement and the Kahnawake Gaming Commission have agreed to collaborate in preventing unlicensed online operators from accepting bets from New Jersey and other U.S. states through the Continent 8 data centre situated on tribal land, according to reports Tuesday from the Associated Press news agency.
Petition to Ban Online Gaming in Singapore -
Singapore Pools and Singapore Turf Clubís application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.
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