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.
Las Vegas-based Full House Resorts hopes Indiana lawmakers will let the state’s gaming operators bring some of its already approved capacity to the state’s more populous areas. Full House is the owner of the Rising Star casino resort in Rising Sun.
New York is expected to “retaliate violently” if New Jersey voters approve plans to allow two casinos across the river from Manhattan. New Jersey voters will decide in November whether to authorize casinos in the northern part of the state.
State officials say Nevada gambling revenue was down more than 2 percent in April compared with last year. The Nevada Gaming Control Board said Thursday that the state’s casinos won $876 million in April.
Gov. Chris Christie said a deal to rescue Atlantic City that advanced in the Legislature this week contains the authority he would need to help the struggling resort town, but he stopped short of saying he would sign it.
As many as 11 states may adopt regulations permitting and regulating daily fantasy sports by the end of the year. Six states have passed bills to regulate daily fantasy sports so far, and five more may do so soon.
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