Las Vegas Sands' China arm faces Hong Kong probe
China Sands operates a number of major casino hotels in Macao
The Macau unit of Las Vegas Sands, one of Asia's biggest casino operators, has confirmed it is the subject of an investigation by Hong Kong authorities.
Sands China said Hong Kong's Securities and Futures Commission was looking into alleged rulebreaking, without specifying further.
It is the second such announcement this month.
US regulators are looking into claims made by a former Sands employee that it engaged in improper business practices.
Allegations
In relation to the latest investigation, Sands China said that Hong Kong authorities had asked for certain documents but said it could not comment further.
Sands China is a subsidiary of Las Vegas Sands and owns casino hotels such as The Venetian Macao, The Sands Macao and The Plaza Macao.
It emerged earlier this month that Las Vegas Sands was being investigated by the US Securities and Exchange Commission and the Department of Justice.
Former Sands China chief executive Steven Jacobs claimed the firm had demanded he use "improper leverage" against government officials.
Mr Jacobs made his allegations in a lawsuit he has filed against Las Vegas Sands. Mr Jacobs, who was dismissed by the company, is claiming breach of contract.
Las Vegas Sands said it would co-operate with the probe, and denied the allegations.
No comments:
Post a Comment