Sands 'paid US$96m' To Settle Macau Case

Financial documents suggested on Wednesday that Las Vegas Sands paid US$96 million to settle a 15-year breach-of-contract dispute with a Hong Kong businessman who helped the company open its first casino in Macau.

The amount was listed as a "non-recurring legal settlement" in a US$582 million quarterly earnings report by the company headed by casino mogul Sheldon Adelson.

Adelson did not take part in a conference call with analysts, and company executives did not say anything about the single line-item among 15 pages of financial figures.

No dollar amount was disclosed on March 14 when the settlement between Sands and Richard Suen and his company, Round Square, was announced in a Las Vegas courtroom.

At the time, Suen said the battle he waged with Adelson since 2004 was "worth it" for what he called "the sense of justice." Suen attorney John O'Malley and Sands attorney James Jimmerson called it a fair end to the case.

Las Vegas Sands spokesman Ron Reese declined to comment on Wednesday, and attorneys on both sides in the third trial involving Sands and Suen didn't immediately respond to messages.

Suen had no written contract but said he was promised a US$5 million "success fee" if Sands got approval to open a Macau casino, plus two per cent of profits over the 18-year life of a license. Sands now owns five lucrative properties in Macau. (AP)