Marshall Hao lawsuit postponed until June 2021

A high-profile lawsuit against casino operator Las Vegas Sands (LVS) has been postponed again, with the trial held in Macau rescheduled to June 16, 2021.
The postponement was requested because of the “extraordinary circumstances resulting from the ongoing Covid-19 pandemic,” as stated in a Sands China interim report, which specifically cited travel restrictions currently in force.
Asian American Entertainment Corp (AAEC), led by Taiwanese businessman Marshall Hao, is claiming for damages incurred from an alleged breach of agreement during LVS’ 2002 bid for a gaming concession in Macau.
Last year, a Macau court agreed that AAEC could raise its claim to nearly $12 billion (95.8 billion patacas) in order to account for lost profits between 2002 and 2022, when the casino concession will expire. An LVS appeal regarding the increase is currently pending.
The casino operator said in its interim report that, “based on proceedings to date, [management] is currently unable to determine the probability of the outcome of this matter.”
Nevertheless, “the company intends to defend this matter vigorously.” DB

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