After two days of jury deliberations, the verdict is in: 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 from the beginning associated with the decade.
This judgment ended up being the second time a court has ordered LVS to pay up their previous consultant; the earlier ruling in 2008, for $43.8 million, was later overturned by the Nevada Supreme Court. Seems like LVS needs to have just paid up then; now they need to spend nearly double to account for amassed fascination with 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 an abundance 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 currently lost. Weidner left the LVS brand 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 from the LVS Asia spreadsheets, but Weidner nonetheless says he ‘lost confidence’ in his former boss’s decision-making abilities at that time.
More Suits Ongoing
In th (daha&helliip;)