Sheldon Adelson’s Sands China today revealed in a filing with the Hong Kong Stock Exchange that Las Vegas Sands Corp. has “reached a comprehensive and confidential settlement” with former Sands China CEO, Steven Jacobs.
Jacobs filed a wrongful termination suit, Jacobs v. Las Vegas Sands Corp. et al, in 2010 against Adelson and Sands China’s parent company, and Venetian Macau. Jury selection was set to begin on June 27. Adelson had already been called to the stand in preliminary proceedings, and a full trial would have likely revealed further information on how decisions were made in and out of the boardroom in regard to the billionaire’s Chinese gambling business.
In the filing, Sands said that Jacobs has dismissed all claims in the U.S. against Las Vegas Sands, Venetian Macau, and Adelson himself.