In Macau and Las Vegas Sands Corporation is reportedly facing a $12 billion lawsuit over allegations tied to its receipt of a casino license in the world’s biggest gambling hub some two decades ago.
According to a report from the Reuters news service, the Las Vegas-headquartered firm is being sued by former partner Asian American Entertainment Corporation and could be ordered to hand over around 70% of its profits from Macau for the eight years to 2022. The disagreement is purportedly set to go to court from June 16 after being initially filed in the United States in 2012 but later dismissed for procedural and statute of limitations reasons.
Decisive dumping:
The news service reported that the disagreement behind the case dates back to 2001 …