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.

The Asian Gaming 50 - 2014

The Asian Gaming 50 - 2014 The sixth annual ranking of the industry’s most influential people sponsored by: Monday, 22 September 2014 07:43

Looking for America

Looking for America Genting’s investments in resort casinos in Las Vegas, New York and Florida could surpass $10 billion over the next several years. That’s if everything unfolds as planned. But even if it doesn’t, there’s enough to pose an enticing prospect for investors— possibly in an IPO. Wednesday, 06 August 2014 02:50

Trouble in Paradise

Trouble in Paradise The Northern Marianas, a US Pacific territory, is moving to tap its destination gaming potential, but legalization on the main island of Saipan is a mess. Thursday, 10 July 2014 03:56

I’ll Take Manila

I’ll Take Manila Matt Hurst was on the front lines in Macau for the openings of Sands, Wynn and City of Dreams. He’s working for Kazuo Okada in the Philippines now, where he believes he’s got the category-killer. Wednesday, 18 June 2014 10:37