delson spoke to media last week during the opening of Sands China’s fourth Macau property, Sands Cotai Cental. So far, Sands China has invested a total of up to us$ 4.4 billion on Sands Cotai Central. “But who’s counting,” Adelson said.
The gaming operator will have invested as much as us$ 5 billion when the fourth tower of the Cotai Central is complete. When asked to comment on the lawsuit filed by former CEO of Sands China Steve Jacobs against the gaming operator, Las Vegas Sands Corp COO Michael Leven said that the courts are still deciding where the lawsuit should take place – Macau or Las Vegas.
US based Las Vegas Sands is the parent company of Sands China. In July 2010, Jacobs filed a lawsuit against Sands China claiming wrongful dismissal, and accused the company of “improper leverage” against some of Macau’s government officials.
“Our opinion is that the lawsuit should be in Macau,” Leven said. “When that happens then it will progress to discovery, and that will probably take another six or eight months, another year or so, it’s going to go on for a long time.”
Sands China is expected to release its first quarter earnings results in a couple of weeks and is in a quiet period until then.
On April 20, the board of directors is expected to consider the recommendation on the payment of a final dividend for the year 2011.