Las Vegas Sands Corp. (LVS) is being sued for more than $375 million by an estranged former partner for alleged breach of contract, the New York Times's DealBook reported Tuesday, citing the complaint.
Asian American Entertainment, controlled by Taiwanese businessman Shi Sheng Hao, filed the suit in Macau in January accusing Las Vegas Sands of improperly breaking off a 2001 agreement to bid for a Macau casino license, and is seeking compensation of MOP3 billion, the report said.
Ron Reese, a spokesman for Las Vegas Sands, declined to comment on the suit, according to DealBook.
Full story at http://dealbook.nytimes.com/2012/03/13/las-vegas-sands-faces-375-million-lawsuit-by-former-macau-partner/
-Dow Jones Newswires; 212-416-2900