Las Vegas Sands – Who’s Wishes?

Posted: March 3, 2011 in Uncategorized

3rd Mar 2011

EXTRACTS OF CASINO NEWS – LAS VEGAS SANDS  STORIES

News about Las Vegas Sands big boss (Mr. Adelson) wanted his senior management staff to “fulfill” his wishes have been splashed all over Asia and in the USA.  Apparently those who did not follow his wishes would be sacked.

According to the reports, LVS would vigorously defend any claims that it broke US anti-bribery laws.  LVS has received a subpeona from the SEC for documents relating to its Macau operations’ compliance with the Foreign Corrupt Practices Act. That law, which prohibits US companies from bribing foreign officials, carries a penalty of up to 5 years’ jail.

Analaysts believe that the case will become much more interesting when insider information surface as well as Mr. Jacobs speaks up in the court room.  At this juncture, it is too early to conclude who’s in the wrong… The most probable outcome will be the two confronting parties to settle things out of court.  And US authority may also treat the case with just a warning for slight oversight on compliance by the company.  On Macau side, it is best to their interest when the case is closed fast.

 

 

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