$347M Trial Over Las Vegas Sands Macau Casinos Settles After Opening Statements
March 14, 2019
Las Vegas, NV – A Hong Kong businessman who claims Las Vegas Sands Corp. owed him $347 million for helping the company gain access to Macau’s lucrative gambling market reached a confidential settlement with the casino chain on Thursday in Nevada state court.
Terms of the settlement were not disclosed when Clark County Circuit Court Judge Rob Bare dismissed the jury. The previous day attorneys for plaintiff Richard Suen and LVS delivered their opening statements in a trial that had been slated to run through March.
The trial would have featured testimony from LVS CEO Sheldon Adelson, however Judge Bare ruled Adelson’s ongoing cancer treatments would prevent him from participating. LVS argued Suen only deserved $3.8 million for helping LVS expand into Macau, a Chinese territory near Hong Kong, in the early 2000’s.
Representatives for the parties did not immediately respond to a request for comment.
Thursday’s settlement marked an end to long-running litigation that saw two previous jury verdicts thrown out by appeals courts. An initial trial in 2008 resulted in a $43.8 million verdict for Suen, and another in 2013 (also recorded by CVN and available to subscribers) ended in a $70 million award that later grew to more than $100 million with interest.
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