Friday, September 30, 2022

LVS says Macau fixer deserves a fraction of compensation claimed


A third trial has begun in Las Vegas over attempts by a Hong Kong businessman to claim compensation from Las Vegas Sands for services as a fixer in Macau, with lawyers for the casino company stressing he deserves just a fraction of the $347 million being claimed.

Richard Suen is seeking the funds for introducing Sands CEO Sheldon Adelson and Sands executives to key Chinese officials with influence to grant a Macau gambling license.

Sands attorney Richard Sauber countered that Suen and his company Round Square earned no more than $3.76 million before abandoning Adelson and Sands in 2001 to find other advice — long before the Sands Macau casino opened in 2004, local media reports.

Adelson, who is battling cancer, provided evidence via video and did not attend the courtroom.

Suen maintains he was promised a $5 million "success fee" if Sands got a Macau license, plus 2 percent of Sands' Macau profits over the 18-year life of the company casino license, the reports said.

Sands appealed previous jury judgments of $44 million against it in 2008 and $70 million against it in 2013, and this jury's decision could be appealed yet again to the Nevada Supreme Court. The state high court twice upheld trial findings that Suen and his company provided services to Sands and that the company is liable for damages.

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