Inquiry into movements of money in Sands Casino

Las Vegas Sands CorporationThe leading casino group Las Vegas Sands Corporation is facing two investigations at the moment. One concerns the movement of large amounts of money over time into Sands casino accounts and the second is an investigation into possible breaches of American anti-bribery laws in its casino operations in Macau.
It is the activities of some executives of the Sands Corporation that are being probed rather than any activities by the Sands chief executive officer Sheldon Adelson.The Las Vegas Sands Corporation is a leading developer of casino resorts in the United Statesand Asia and has recently announced, after much indecision as to the final location, plans to open a “Las Vegas’ style “EuroVegas” in Madrid, Spain.
In the United States its most well known casino hotels are the luxurious Venetian and the Palazzo on the Las Vegas strip. Sheldon Adelson was among the first to see that Asia had great potential for casino development so in 2004 the Sands Macau opened in Macau, the only area within China where gambling is legal. The Macau Venetian, the world’s largest casino opened in 2007. The company is also involved in casino resort developments on the Macau Cotai strip. In 2010 the Marina Bay Sands opened in Singapore and made a large profit in its first year of operation.The current investigations into the activities of Sands executives centre on Las Vegas and Macau. The case in Macau is based on the possibility that employing a lawyer in Macau who was also involved in local legislation could be a breach of United States anti- bribery laws. The allegation has been denied by Sands. The possible money laundering case centres around the Venetian casino in Las Vegas. The federal investigation alleges that there could possibly have been illegal activity by two particular “high roller” gamblers who moved large amounts of money into and through accounts in the Venetian. These allegations concern activity said to have taken place several years ago. A Las Vegas Sands Corporation spokesman stated that the company believed that it has not “committed any wrong doing”.


The investigation is concentrating on the fact that the movement of extremely large amounts of money into casino accounts should have been noted by Sands executives and reported to the relevant authorities as required by law. Sands claims that it carried out the required checks on both of the high roller gamblers involved in the investigation. There have been no charges made so far against specific Sands executives and it could be several more months before any are brought.

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