HOT Stories more

Gambling not primary purpose for Vegas trips

Article

LVS CEO, Sheldon Adelson, vigorously denies allegations

July 09, 2012 8:21 PM by Ray Poirier

More Casino Industry ArticlesAllegations that he was promoting prostitutions at his Macau casino or that he violated the Foreign Corrupt Practices Act (FCPA) were vigorously denied by billionaire Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp. (LVS) in an interview with Steven Bertoni of Forbes.

The allegations were made by former Sands China executive Steve Jacobs in a lawsuit filed against his former employer.

“There isn’t a shred of evidence,” said Adelson. “I’ll bet anyone a thousand to one that there will be no fire under the smoke that he’s (Jacobs) blowing. I f someone wants to put up a million they can hope to win one billion – but that won’t happen because there isn’t a breach of FCPA. Not even a hint,” said Adelson defiantly.

In his latest court filing, Jacobs charges that the Sands is withholding thousands of documents from the court, including emails that outline a formal strategy to promote prostitution (which is legal in Macau) and loan sharks in its Macau casinos.

Adelson responds that Jacobs is using court documents to publicly embarrass and vilify both him and the company.

 

 

 

 

top stories

The ex-wife of Chairman and Chief Executive Officer Steve Wynn lost her campaign for re-election to the board of Wynn Resorts Ltd.

​Las Vegas Sands Chairman Sheldon Adelson did not surprise anyone, saying he’s confident  better times are ahead for the Macau and Cotai Strip casinos just off the Chinese mainland, but no, they have not arrived yet.

SugarHouse Casino will host its first-ever major poker tournament, poker superstar Phil Hellmuth, Jr., GT's Christina Lindley and hit television show “Poker Night in America,” all as part of the $100,000 Guaranteed Poker Showdown April 23-27, 2015. 

A new credit card category code may soon make it easier for casino customers to get money to the online gaming account of their choice.

The seventh annual “Smokin’ in Mesquite BBQ,” barbecue competition and festival is set to heat up the CasaBlanca Resort and Casino, 950 W. Mesquite Blvd. May 2-3 with food, competition and family-friendly fun to last the whole weekend.

GamingToday Race and Sports Futures

           Westgate Superbook  Stratosphere Sports Book  

                Wynn Sports Book  CG Technology

GamingToday subscription ad

Check out our writersCheck out our writers