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Las Vegas Sands Corp. Message Board

  • morrisonmichael994 morrisonmichael994 Jul 31, 2013 12:09 AM Flag

    101 millions is 20% of LVS net income

    LVS must pay $101 millions
    LVS net income $540.6 million (from its earning report)

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    • Las Vegas Sands Corp. lost a bid to set aside a $101.6 million jury award to Richard Suen, a Hong Kong businessman who claimed he helped the casino operator obtain a gaming license in Macau.
      Clark County District Judge Rob Bare at a hearing today in Las Vegas denied the request by Sands to enter judgment in its favor. The judge also rejected the alternative of ordering a new trial or cutting the jury award.
      “What he said was, ‘Hey, if you get me the license, it is worth it,’” the judge said, referring to testimony by Sands Chairman and majority owner Sheldon Adelson during the trial, as he denied the casino operator’s request to lower the award.
      Adelson, 79, testified that Suen, a friend of his younger brother Lenny Adelson, had contributed nothing to helping Sands get a concession in Macau in 2002. The Nevada jury in May awarded Suen $70 million in damages, to which Bare added $31.6 million in pre-judgment interest.

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