January 17, 2008
CotaiJet set to resume operation
Las Vegas Sands Corp. (NYSE:LVS) announced today that the Macao Intermediate Court has removed an interim injunction that had suspended the company's entitlement to operate a ferry service between Hong Kong and Macao.
The CotaiJet service had been operating for just over a week and was offering service between Hong Kong's Macao Ferry Terminal at Shun Tak Centre and Macao's newly opened Taipa Temporary Ferry Terminal when it was suspended in mid-December.
The plaintiff in the case had sued the Macao SAR Government seeking a review of the government's decision to grant LVS the right to operate a ferry service. That legal action suspended the effect of government's decision, which had the consequence of suspending LVS's ferry service until further determination of the merits of the claim.
"As we expected, the court acted in an expeditious and prudent manner to consider the merits of the claim, and decided that the injunction should be removed. We are already in the process of returning CotaiJet service to operation," said Stephen Weaver, president of Asia, Las Vegas Sands Corp.