Las Vegas Sands’s (NYSE:LVS) Sands China Ltd. is under investigation by Hong Kong Securities and Futures Commission for alleged breaking of regulations, after parent company Las Vegas Sands is being investigated by U.S. regulators.
This is an extension of the investigation by the U.S. Securities and Exchange Commission and Justice Department, announced earlier in March, where they asked for documents related to Sands China's compliance with the Foreign Corrupt Practices Act.
Sands China said in a statement that they have been “requested to produce certain documents” in relationship to that.
If there is a breach in the Foreign Corrupt Practices Act, it would mean a company based in the U.S. would have offered some type of payment to foreign officials for the purpose of keeping or winning business from them.
Initially the investigations came about from allegations from former Sands China CEO Steven Jacobs, who asserted the company had broken his employment contract with them.
Founder and Chief Executive Officer Sheldon Adelson said this, “When the smoke clears, I am absolutely, not 100 percent, but 1,000 percent positive that there won’t be any fire below it.”
Shares of Las Vegas Sands remain under pressure, trading at $41.89, falling $1.58, or 3.63 percent, as of 2:40 PM EDT.
Showing posts with label Sheldon Adelson. Show all posts
Showing posts with label Sheldon Adelson. Show all posts
Thursday, March 31, 2011
Wednesday, March 9, 2011
Las Vegas Sands (LVS) Plans for $21 Billion Strip in Spain Unveiled
Las Vegas Sands Corp. (NYSE:LVS) chief executive officer Sheldon Adelson revealed to Spanish media that the company has plans for a $21 billion gaming business, which would include about 12 hotel-casinos.
Adelson said to El Mundo, “Spain is the ideal country for it. But I’m worried about the current Spanish labor laws. They are so rigid.”
In light of that, Adelson said the company will wait until a new Spanish government is in place before he closes the deal.
The location of the probable development will be in Madrid.
Las Vegas Sands was trading at $42.56, up $0.24, or 0.56 percent, as of 11:59 AM EST.
Adelson said to El Mundo, “Spain is the ideal country for it. But I’m worried about the current Spanish labor laws. They are so rigid.”
In light of that, Adelson said the company will wait until a new Spanish government is in place before he closes the deal.
The location of the probable development will be in Madrid.
Las Vegas Sands was trading at $42.56, up $0.24, or 0.56 percent, as of 11:59 AM EST.
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