Local News


Vegas Sands-Macau dealmaker settle 15-year case

Posted at 2:25 PM, Mar 14, 2019
and last updated 2019-03-14 18:12:09-04

LAS VEGAS (AP) — A settlement has ended a long-running breach-of-contract battle between U.S. casino company Las Vegas Sands Corp. and a Hong Kong businessman who helped it open its first casino in Macau in 2004.

Terms of the agreement were not disclosed Thursday by Richard Suen, his lawyers or attorneys for Sands.

But Suen emerged from a Las Vegas courtroom saying it was worth a 15-year legal battle.

Sands attorney James Jimmerson and Suen lawyer John O'Malley called terms confidential.

A Nevada judge announced the settlement as he dismissed jurors ahead of a second day of videotaped testimony from ailing billionaire Sands chief Sheldon Adelson.

A spokesman for publicly traded Sands declined to comment, and it wasn't immediately clear if financial details would be reported to federal Securities and Exchange Commission regulators.