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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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Gambling News :

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei, she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

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