Las Vegas Sands Corp. Loses $43.3 Million In Judges Ruling

The Las Vegas Sands Corp. learned a tough lesson on Saturday. A Hong Kong man was awarded $43.8 million from a judge for his part in helping the Sands Corp. open their casino in Macau.

The company used the help of Richard Suen to obtain their gambling license in Macau. He helped them gain their license, and once they opened up their casino, they paid Suen nothing.

He received his piece on Saturday, however. The judge ruled that the Sands Corp. would have to pay Suen $43.8 million for his role in helping the company. The company now has two properties in Macau, with plans for ten more.

Attorneys for the Sands Corp. argued that their client did not owe the money because Suen reneged on his end of the deal. They say that he was supposed to help company executives in 200 and 2001, and that he did not follow through.

The judge, while siding with Suen, did not award the money that he was suing for. He had wanted $100 million, but the ruling came down with him only getting a little over forty percent of what he was seeking.

An eight person jury began deliberations in the case on Friday. The ruling came down just twenty four hours later.

May 24, 2008
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com
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