Saturday, August 13, 2022

Sands persuades U.S. court to throw out $70 million verdict related to casino permit


Casino operator Las Vegas Sands Corp. has once again persuaded the Nevada Supreme Court to throw out a jury award won by Richard Suen, in relation to claims that he helped Sands secure its license in Macau, local media reports.  

On Friday, the state court said there was not enough evidence to justify the $70 million in damages that was awarded to Suen in 2013, and said a new trial was needed.

In 2008, the Hong Kong businessman took Sands to court after he had helped arrange a meeting between Sands Chairman Sheldon Adelson and Chinese government officials in Beijing which he claims was instrumental in helping them secure their licenses in 2002. Suen won a $43.8 million verdict at the time. 

However the damages were overturned by the Nevada Supreme Court later, when Adelson testified that Suen, had “zero” to do with assisting the company obtain a license in the gambling hub and added that Macau made its decisions independent of the central government in Beijing.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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