LAS VEGAS – US gaming mogul Sheldon Adelson has ended his six-year legal fight with the former head of his Macau casinos whose allegations of “outrageous and illegal” demands by the Las Vegas Sands chairman prompted a US Securities and Exchange Commission (SEC) investigation.
A “comprehensive and confidential” settlement was reached between Steven Jacobs and the company, according to a statement by Sands China to the Hong Kong Stock Exchange yesterday. The case had been scheduled for trial this year in Las Vegas after Sands lost its latest petition to the Nevada Supreme Court to have the judge removed.
Jury selection for the Jacobs case had been set to begin on June 27.
Las Vegas Sands Chairman and CEO Sheldon Adelson testifies in court in Las Vegas in May last year. – AP
Steven Jacobs, former CEO of Sands Macau, smiles during a court appearance in Las Vegas in April last year. – AP
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