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.
Since its opening six months ago, the Harrah’s Atlantic City Waterfront Conference Center has nearly doubled its booked meetings and conventions through 2019 and expects to bring nearly 300,000 conference attendees to Atlantic City.
More than four million people traveled through McCarran International Airport during March, a 5.5 percent increase over March a year ago. It was the airport’s best March total in eight years.
Clark County’s gaming win fell 3.59 percent to $796.69 million during March during the same period a year ago. But the rest of the state did not do any better as the statewide win for March was also 3.04 percent lower at $922.27 million.
Leaders of Connecticut’s two federally recognized Indian tribes have received preliminary assurances from federal officials that gambling agreements with the state would not be jeopardized by the proposed third casino they hope to open.
Massachusetts will collect less gambling tax revenues if two casinos rather than one are allowed to open in its southeastern corner near Rhode Island.
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