Asian American Entertainment Corporation is suing Las Vegas Sands Corporation in Macau for $375 million.
Asian American, which is controlled by Taiwanese-American businessman Shi Sheng Hao, claims Las Vegas Sands broke a contract with Asian American by teaming up with another firm to bid for a lucrative gaming license in Macau without telling Asian American. It has already tried to sue Las Vegas Sands in Nevada, but the suit was dismissed.
Hao’s lawyer said his client “really feels let down by [Sheldon] Adelson,” who controls Las Vegas Sands.
Macau is not only the only place in China where casino gambling is legal, it is now the most lucrative gambling market in the world.
According to Macau law, Adelson has two months to respond to the suit.
Sands China Ltd., which operates the company’s three properties in Macau, called the suit “meritless” and plans to fight it out in court.