Allegations 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.
NFL Analysis | Last winter’s NFL Football free agent period was a bit anticlimactic due in large part to the salary cap’s modest rise from $120.6 million in 2012 to just $123 million in 2013. This year’s crop is hoping that 2014 brings a reversal of fortune.
The Pennsylvania Gaming Control Board said Wednesday that revenue from slot machines in February totaled $181 million, down more than 7.5 percent. Regulators say bad winter weather once again kept gamblers away from Pennsylvania casinos.
Baseball Previews | This is the sixth of 30 MLB baseball preseason previews to the 2014 pro baseball season as seen by GamingToday sports editor Mark Mayer. Today, the Chicago Whitesox. On deck: Cincinnati Reds.
Baseball Previews | This is the fifth of 30 MLB preseason previews to the 2014 pro baseball season as seen by GamingToday sports editor Mark Mayer. Today, the Chicago Cubs. On deck: Chicago White Sox.
Casino corporations MGM Resorts International and Caesars Entertainment Corp. have both announced loyalty program partnerships with major hotel chains. The independent Strip casino the Cosmopolitan is also partnering with a hotel company.
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