Asgam AD Header1
Asgam AD Header2

Suen's Case Against LVS Will Go to Trial

Wednesday, 20 March 2013 03:51

A Nevada state court judge has denied a bid by Las Vegas Sands to throw out Richard Suen’s claim that the casino giant owes him millions for helping it obtain its Macau license more than a decade ago.

The Tuesday ruling by Judge Rob Bare clears the way for jury selection to begin next week in a re-trial of a case which Mr Suen, a Hong Kong-based businessman, won in 2008, only to have his US$43.8 million breach-of-contract award overturned by the Nevada Supreme Court.

Las Vegas Sands Chairman Sheldon Adelson, who is expected to testify at the trial, was in attendance for Judge Bare’s ruling.

Mr Suen claims LVS did not pay him as promised for arranging meetings with Chinese government officials that helped smooth the company’s entry to the lucrative casino enclave, which had been opened to foreign competition after the territory was returned to China in 1999. LVS contends Mr Suen did nothing to earn the money and that it won the license on its own.

In overruling the 2008 verdict, the Nevada Supreme Court cited errors by trial judge Michelle Leavitt in admitting testimony by former LVS President Bill Weidner. At the trial Mr Weidner said in a deposition that he agreed in 2001 to pay Mr Suen a $5 million fee plus 2% of the company’s Macau casino revenues if his work led to securing the concession.

It’s not the first time the company has faced similar claims. In June 2009, a settlement was reached for $42.5 million with three business associates who claimed they had assisted the company in receiving the concession.

Philippine Gaming’s Guiding Light As Manila’s Entertainment City spurs growth and regulatory challenges, Pagcor chairman Cristino Naguiat wants all sides to profit Friday, 10 April 2015 07:24

Getting Past China

Getting Past China Reduced spending by mainland visitors highlights the need for Macau to expand its tourist sources. Whether more international travelers will visit and whether Macau can handle them remain to be seen Friday, 10 April 2015 07:11

Unleashing Wave

Unleashing Wave In a country setting the trends across Asia, foreigner-only casinos are looking woefully antiquated. That’s set to change from 2017 as the first of several South Korean integrated resorts comes online. Then, at last, the industry can properly capitalize on hallyu, the Korean cultural wave... Friday, 10 April 2015 06:39

Coming of Age

Coming of Age At the turn of the millennium, few imagined how influential Chinese consumers would soon become in global markets ranging from natural resources to luxury goods. Or that they’d become by far the most coveted customers of the world’s casino resort developers, for whom catering to the rapi... Friday, 06 March 2015 08:55