Sands China is still waiting for the courts to rule on its appeal regarding the government’s decision not to approve the company’s application for a land concession for the so-called parcels seven and eight.
The government decision was announced in December 2010.
Sands China applied to the chief executive for a review of the decision and filed an appeal with the Court of Second Instance, which has yet to issue a decision, according to the company’s latest results’ announcement, made public yesterday.
Should the group win the appeal, it is still possible for the chief executive to again deny the land concession based upon public policy considerations, Sands China said.
According to the results’ announcement, the company’s first-half net profit more than doubled from a year earlier, to US$539.5 million (MOP4.3 billion).
Meanwhile, Sands China and parent company Las Vegas Sands have scored a victory in the lawsuit filed against them in Nevada by fired chief executive officer Steven Jacobs.
On Friday the Nevada Supreme Court ordered the judge overseeing the case to take another look at whether Sands China, being based in Macau, is subject to being sued in Nevada.
The court also ordered that proceedings in Jacobs’ lawsuit against Las Vegas Sands and Sands China be put on hold until this matter is resolved.
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