Las Vegas Sands vs Richard Suen lawsuit nears end

Suen’s lawyer said last week in his closing argument in state court in Las Vegas, that Sheldon Adelson, Las Vegas Sands’ chairman and controlling shareholder, did not know about the possibility the Macau government would make licenses available until 2000 when he met Suen, Bloomberg reports.

The Hong Kong businessman is seeking us$ 328 million in damages based on his claim that under a 2001 agreement with Las Vegas Sands he is entitled to two percent of the casino operator’s net income from its Macau properties.

However, Sands attorneys say Suen is owed nothing because he failed to hand-deliver the license. They say the company won the license through a competitive process. This is the second time Suen’s claims have gone to trial.

It's the second time this fight has played out. A jury decided in Suen's favor in 2008, but the Nevada Supreme Court overturned the verdict because the judge admitted hearsay evidence.

Suen filed the lawsuit in 2004 after failing to reach a compensation agreement with Sands. The second jury has not been informed that the case is a re-trial. Over the course of five weeks, jurors have heard testimony from Sands' one-time president, a former Chinese diplomat, and Adelson's brother, who was also Suen's business partner.

Adelson himself testified for three days in April. The multibillionaire acknowledged that Sands' chief operating officer agreed in 2001 to pay Suen a "success fee" of us$ 5 million, plus 2 percent of the company's profits from its Macau casinos. But he said Suen would have had to deliver far more than he did to earn that fee.

The Nevada Supreme Court in 2010 reversed a us$ 43.8 million jury award in favour of Suen and sent the case back for a new trial.

Las Vegas Sands is the parent company of Macau-based gaming operator Sands China.