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July 28, 2014

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Judge instructs Las Vegas Sands to pay businessman $102 million

Image

Steve Marcus

Hong Kong businessman Richard Suen is shown during a courtroom break at the Regional Justice Center Thursday, April 4, 2013. Suen is suing the Las Vegas Sands saying he is owed millions of dollars in an agreement in which he helped Sands secure its gaming license in Macau a decade ago.

A Las Vegas judge affirmed a $70 million verdict against Las Vegas Sands Corp. on Tuesday and tacked on another $31.6 million in interest.

In early May, a jury found against the casino company and in favor of Hong Kong businessman Richard Suen. The jury agreed Suen should be compensated for helping Sands earn a Macau gambling license in 2002.

The interest of 5.25 percent, or $8,400 per day, was calculated from the date Suen filed his suit, in 2004.

Suen won his breach of contract suit in 2008, but Sands appealed and the judgment was tossed on a technicality. Sands is again appealing.

Interest will continue to accrue until the money is paid or the verdict is overturned.

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