Macau Appeals Court Rejects Suit Vs Las Vegas Sands Corp.

A Macau appeals court reportedly rejected a $375.7 million lawsuit against the China unit of Las Vegas Sands Corp. LVS. http://www.macaubusiness.com/news/court-rejects-asian-american-entertainment-suit.html The suit was brought in 2012 by Asian American Entertainment Corp. and claimed that Sands breached a 2001 an agreement to jointly obtain a Macau casino license. Related complaints have been dismissed by U.S. courts. https://www.sec.gov/Archives/edgar/data/1300514/000130051415000005/lvs-20141231x10k.htm#sA8331540F2D18F19CF74FF84F096BED7 Separately, a Las Vegas hearing concluded last week that will decide whether a U.S. court has jurisdiction in the wrongful termination suit of former Sands executive Steven Jacobs. http://www.reviewjournal.com/business/casinos-gaming/vegas-judge-decide-jurisdiction-sands-china-case That case has stirred speculation that Sands could face renewed scrutiny over bribery allegations in Macau which could jeopardize its gambling licenses. http://www.theguardian.com/us-news/2015/may/09/sheldon-adelson-macau-testimony-las-vegas-sands