Vegas Sands report suggests settlement amount in Macau case
Posted April 17, 2019 7:02 pm.
This article is more than 5 years old.
LAS VEGAS — A public filing suggests Las Vegas Sands Corp. paid $96 million to settle a 15-year breach-of-contract dispute with a Hong Kong businessman who helped the U.S. company open its first casino in the Chinese gambling enclave of Macau.
The amount was listed Wednesday as a “nonrecurring legal settlement” in a $582 million quarterly earnings report by the publicly traded company headed by casino mogul Sheldon Adelson.
Company executives didn’t say anything during a conference call with analysts about the single line-item among 15 pages of financial figures.
No dollar amount was disclosed when the settlement between Sands and Richard Suen and his company, Round Square Co., was announced in a Las Vegas courtroom March 14.
A company spokesman declined Wednesday to comment. Attorneys on both sides didn’t immediately respond to messages.
Ken Ritter, The Associated Press
