A person from Macau who is closely related to Las Vegas Sands (LVS) and the operations that the company has in Macau is allegedly suing the American company for a lot of money. Marshall Hao, the owner of Asian American Entertainment Corp (AAEC) and the person who wants to sue, is referring back to the partnership that the two companies had almost two decades ago.
According to Hao, LVS owes him a lot of money from that time, and, according to some calculations, LVS could end up paying up to $12 billion to Hao and his company. In other words, this is a very interesting position for LVS at the moment, but nothing is proven up to this point. Nevertheless, it will be interesting to see how the whole thing ends up.
Hao, who comes from Taiwan, stated that his company and LVS had a deal about a Macau casino license which they signed back in 2001. Their idea was to break the monopoly that was introduced by Stanley Ho back in the day.
Hao said that he had been an advisor of a sort to Las Vegas Sands and had advised them to build a casino in Macau that would resemble their popular Las Vegas casino called The Venetian. He added that he had thought the style of the Venetian would have been a great fit for the landscape of Macau.
LVS proceeded with that idea and built a casino in Macau, which was just as Hao had advised them. Their facility is known as Sands Macao, and it is a casino that helped the company become one of the most popular casino operators in the world.
Allegedly, only two years after Hao’s company and LVS started their cooperation, LVS terminated the contract and joined Galaxy Entertainment. However, the collaboration between Galaxy and LSV did not last very long either, as the two casino giants decided to proceed on their own in Macau.
Since LSV achieved such huge success in Macau, Hao claims that all of that wouldn’t have happened if it wasn’t for him. He added that his pieces of advice made LVS what it is today and that he deserves to be paid.
Hao filed a lawsuit against the company back in 2007, but it was thrown out after four years. He repeated the same thing once again in 2012 and wanted to get paid $375 million. That amount increased to $5 billion one year after that, only to become a number of $12 million. Hao will be heard on Sept. 11 by Macau’s Court of First Instance.
Hao is not the only one to file such a huge lawsuit against LVS. Richard Suen is also a former associate of the company who tried to sue the company for $346.9 million. There was an agreement between the two sides, and the businessman was eventually paid a total sum of $96 million.
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