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May 17 2013

Adelson Hit With $70 Million Verdict

Sheldon Adelson, one of the world’s richest men and now one of the primary money men for Republican politicians, has lost another major lawsuit. A jury awarded a man who had helped Adelson get a license to open several casinos in Macau a $70 million judgment.

A Nevada jury Tuesday returned a $70 million verdict against GOP megadonor Sheldon Adelson’s global casino and resort company, Las Vegas Sands, in a high-profile lawsuit over the company’s expansion into Macau.

Businessman Richard Suen sued Las Vegas Sands, claiming the company failed to pay him as promised for helping it secure a gaming license in the administrative region of China.

The trial is a second loss for Adelson: A jury found for Suen for nearly $50 million in 2008, but the Nevada Supreme Court overturned the verdict in 2010 after appeal.

Suen had sought $328 million.

Las Vegas Sands spokesman Ron Reese said the company plans to appeal.

This isn’t the first trouble with Adelson’s incredibly lucrative Macau casinos. He has already admitted that he bribed Chinese officials to get those casinos open.

7 comments

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  1. 1
    marcus

    Pocket change.

  2. 2
    theschwa

    Ouch! That would be like me being fined $80.00. Where can I send my donations?

  3. 3
    Akira MacKenzie

    Now, now, Adelson is just a left-wing boogeyman who is no more influential than any liberal businessmen. This is just tribalism… ;)

  4. 4
    eric

    I’m surprised he didn’t just pay the guy his money. I bet the Macau casinos make more than that in a few months.

  5. 5
    David Hart

    “Businessman Richard Suen”

    …has an excellent name for bein’ the guy suin’ Adelson. Is this nominative determinism at work?

  6. 6
    democommie

    But does Adelson really have billions, or is he one of those “billionaires” whose leveraged to the hilt?

  7. 7
    cry4turtles

    Virtual money.

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