Macau government asks Sands China for report on US investigation

Las Vegas Sands revealed in its annual report that the Securities and Exchange Commission and the US Department of Justice were probing it after Sands China’s former CEO, Steve Jacobs, accused the gaming operator in a court case, of using improper leverage against government officials.

Tam Pak Yuen added that Sands China’s operations in Macau appeared to have proceeded “without problems” in recent years.

Meanwhile, Sands China’s acting CEO, Michael Leven, told that Sands China has “filed a criminal complaint in Macau for defamation and with evidence of extortion” against Jacobs.

The lawsuit was filed on January 21.

Leven confirmed he was aware of talks between Jacobs and representatives from Harrah’s Entertainment (now Caesars Entertainment) on a possible partnership in Macau, but he argues he told Jacobs a decision like that couldn’t be made without the involvement of the company’s chairman Sheldon Adelson.

Leven said that there were actual talks between both parties, but feedback from people in Macau was that Caesars “wouldn’t get the license.”

Meanwhile, Leven also said that Sands China has dropped the quest for a replacement for Jacobs as CEO and will maintain its current structure, with president and COO Edward Tracy leading the operation.

Nevertheless, Sands China is still looking for a representative to liaise with the government. “The person would have some government experience,” Leven said.