Las Vegas Sands Notifies SEC Of Settlement, No Terms Disclosed
LAS VEGAS (AP) — Casino company Las Vegas Sands has notified federal regulators that it settled a 15-year breach-of-contract battle with a Hong Kong businessman, without disclosing terms.
A notice posted Wednesday with the Securities and Exchange Commission says only that Round Square Co. headed by Richard Suen "released all claims" against Sands when the agreement was announced March 14 in Nevada state court.
The notice says the settlement's terms are confidential.
Sands spokesman Ron Reese and Suen attorney John O'Malley declined comment on Thursday.
Sands twice appealed jury verdicts that Suen was due tens of millions of dollars for helping Sands open its first casino in the Chinese gambling enclave of Macau in 2004.
The settlement ended a third trial in Nevada that focused on establishing the amount Round Square should receive.