Venetian Casino Resort, LLC operates a hotel in Las Vegas, Nevada. Its amenities include accommodation suites, pools, a spa, a palazzo, in-suite dining, wedding space, and a business center. The company also provides various spa, golf, and shows and events packages. In addition, it operates integrated resorts that serve as destinations for travel enthusiasts with various amenities, such as dining restaurants; shops; bars and lounges; a night club; catering and specialized event services; and a casino that offers table games, slots, a poker room, and imperial baccarat, as well as a high definition TV spread that facilitates sports fans to view independent events simultaneously from their pers...
3355 Las Vegas Boulevard South
Las Vegas, NV 89109
Founded in 1997
Macau Court Dismisses Asian American Entertainment Corporation, Limited's Claim against Las Vegas Sands Corp.'s Subsidiaries
Jun 30 14
As previously disclosed by Las Vegas Sands Corp. on January 19, 2012, Asian American Entertainment Corporation, Limited filed a claim with the Macau Judicial Court (Tribunal Judicial de Base) against the following subsidiaries of the company: Venetian Macau Limited, LVS (Nevada) International Holdings, Inc., Las Vegas Sands, LLC and Venetian Casino Resort, LLC (VCR, together with LVS (Nevada) and LVSLLC). The claim is for 3.0 billion patacas (approximately $375.7 million at exchange rates in effect on June 25, 2014) as compensation for damages resulting from the alleged breach of agreements entered into between AAEC and the defendants for their joint presentation of a bid in response to the public tender held by the Macau government for the award of gaming concessions at the end of 2001. On September 23, 2013, the U.S. Defendants filed a motion with the Macau Second Instance Court, seeking recognition and enforcement of a U.S. Court of Appeals ruling in a prior similar action filed by AAEC, given on April 10, 2009, the effect of which would be to dismiss AAEC's claims against the US Defendants. On June 25, 2014, the Macau Court of Second Instance delivered a decision, which gave formal recognition to and allowed enforcement in Macau of the judgment of the U.S. Court of Appeals, dismissing AAEC's claims against the US Defendants. AAEC has ten days in which to appeal the decision. Subject to any appeal, the US Defendants intend to apply to the Macau Court of First Instance to dismiss AAEC's claims in full. Venetian Macau Limited had previously been removed as a party to the action.