LVS CEO, Sheldon Adelson, vigorously denies allegationsJuly 09, 2012 8:21 PM by Ray Poirier
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.
Tighter slot machines have not produced increased gaming revenue and the hold percentages could be a reason for the decline, according to a study commissioned by the gambling equipment industry’s largest trade association.
NFL Previews | This is the 26th of 32 pro football preseason previews leading up to the NFL football season opener Thursday, September 10. On deck, Chicago Bears.
The Baltimore Orioles, whose playoff hopes hang by a thread, visit the Toronto Blue Jays for the opener of a three-game series. First pitch is set for 7:07 pm ET at Rogers Centre where Ubaldo Jimenez will face 13-game winner Drew Hutchison (-180). The total is 9.5.
In a Thursday morning ruling, Judge Richard Berman’s ruling is a huge defeat for the NFL and commissioner Roger Goodell, who handed down a four game suspension to the New England Patriots quarterback.
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