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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
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May 29, 2015
09:31 EDTLVSNevada reports April Statewide gaming win up 5.4% to $897.93M
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May 28, 2015
08:07 EDTLVSLas Vegas Sands recommends shareholders reject TRC Capital's mini-tender offer
Las Vegas Sands received notice of an unsolicited mini-tender offer by TRC Capital to purchase up to 2,500,000 shares of LVS's common stock at a price of $47.63 per share in cash, without interest. The offering price is approximately 4.61% below the closing price per share of LVS's common stock on May 26, 2015, the last trading day before the mini-tender offer was commenced. The offer is for approximately 0.31% of the outstanding shares of LVS's common stock. LVS does not endorse this unsolicited mini-tender offer and recommends that shareholders reject the offer because the offer price is below the current market price for LVS shares and is subject to numerous conditions, including TRC Capital obtaining sufficient financing necessary to consummate the offer. LVS also recommends that any shareholders who have tendered shares to TRC Capital withdraw those shares by providing the written notice described in the offering documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m. Eastern Time on June 25, 2015.
May 26, 2015
20:50 EDTLVSBernstein to hold a conference
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07:29 EDTLVSLawsuit against Las Vegas Sands to proceed in U.S., Guardian reports
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May 18, 2015
10:01 EDTLVSOn The Fly: Analyst Downgrade Summary
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07:40 EDTLVSLas Vegas Sands downgraded to Neutral from Buy at Goldman
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