New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 30, 2014
17:11 EDTLVSLas Vegas Sands says Macau court dismisses AAEC claims
In a regulatory filing, Las Vegas Sands said as previously disclosed by Las Vegas Sands, on January 19, 2012, Asian American Entertainment Corporation, Limited, AAEC, filed a claim with the Macau Judicial Court against the following subsidiaries of the company: Venetian Macau Limited, LVS (Nevada) International Holdings, Las Vegas Sands, and Venetian Casino Resort and LVSLLC. The claim is for 3.0 billion patacas, approximately $375.7M at exchange rates in effect on June 25 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. On June 25, 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.
News For LVS From The Last 14 Days
Check below for free stories on LVS the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 13, 2014
13:57 EDTLVSNJ reports Atlantic City July gaming win down 7.7% to $274.3M
Subscribe for More Information
07:39 EDTLVSBofA/Merrill lowers Macau forecasts
BofA/Merrill lowered its 2014 Macau gross gaming revenue forecast to +5% year-over-year from +12% due to a slowdown in July mass trends. As a result, the firm lowered Las Vegas Sands' (LVS) price target to $88 from $95 and Wynn Resorts' (WYNN) to $260 from $270.
August 8, 2014
07:16 EDTLVSBarclays remains bullish on Macau gaming stocks
Subscribe for More Information
August 7, 2014
16:00 EDTLVSOptions Update; August 7, 2014
Subscribe for More Information
12:09 EDTLVSStocks with call strike movement; GMCR LVS
Subscribe for More Information
10:00 EDTLVSOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:22 EDTLVSLas Vegas Sands upgraded at Craig-Hallum
Subscribe for More Information
07:38 EDTLVSLas Vegas Sands upgraded to Buy from Hold at Craig-Hallum
Subscribe for More Information
06:02 EDTLVSStocks with implied volatility movement; LVS YOKU
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use