Las Vegas Sands ordered to pay us$ 70 million in Macau dispute
The verdict was part of the second trial involving Suen, who has claimed that the meetings he helped set up for billionaire Sheldon Adelson with Beijing officials were key to Sands’ obtaining the license to operate casinos in Macau beginning in 2002. Three years ago, the Nevada Supreme Court reversed a decision by the jury awarding Suen us$ 43.8 million.
Adelson testified in the trial saying that Suen, who is his younger brother Lenny Adelson’s friend, made no contribution to the company being able to operate in the former Portuguese colony, the only place in China where it is legal to operate a casino. Sands was part of the winning bid by Galaxy Entertainment Group, which was awarded one of the three concessions in 2002.
Since the slowdown in the US economy, Macau has been a top choice for big American gambling companies seeking opportunities in fast-growing markets. Macau currently stands as Sands’ biggest market, accounting for 60 % of the company’s revenue.
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