After two days of jury deliberations, the verdict is in: Las Las vegas Sands (LVS) needs to fork over $70 million in past due fees and accrued interest to one-time consultant and Hong Kong businessman Richard Suen for his role in getting LVS into the Macau gaming market at the start of this decade.
This judgment had been the time that is second court has ordered LVS to pay up their former consultant; the previous ruling in 2008, for $43.8 million, was later overturned by the Nevada Supreme Court. Appears like LVS needs to have just paid up then; now they have to pay almost dual to account for amassed curiosity about the interim.
The current suit kicked off early this year, and ran for months before closing arguments were finally made in May. The suit has received a good amount of newsworthy drama, including testimony from both Sheldon Adelson, the notorious LVS chairman, and his former company president William Weidner; between these two, apparently no love is now lost. Weidner left the LVS brand name four years ago, and testified at the latest hearing that Adelson’s pugilistic nature, even during their original trial against Suen in 2008, was ‘injurious to relationships with China.’ You may not discern that through the LVS Asia spreadsheets, but Weidner nonetheless says he ‘lost confidence’ in his former boss’s decision-making abilities at that point.
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