BusinessWeek, 3 Mar 2013Las Vegas Sands Corp. (LVS), embroiled in two U.S. probes and a court battle with the former head of its Chinese (1928) casino business, said for the first time it probably violated the U.S. Foreign Corrupt Practices Act.
Macau unit Sands China Ltd. fell the most in two weeks in Hong Kong trading after billionaire Sheldon Adelson’s Sands made the announcement in its annual report (LVS), citing an internal investigation. “There were likely violations of the books and records and internal controls provisions of the FCPA,” it said.
Singapore and Macau’s casino regulators did not immediately respond to phone calls and emails from Bloomberg News seeking comment on the impact on Sands operations in their cities. Full story
