The amount was recorded as a”nonrecurring legal settlement” at a $582 million annual revenue report from the publicly traded company led by casino mogul Sheldon Adelson.
Adelson didn’t take part in a conference call with analysts, along with business executives did not say anything about the single line-item among 15 pages of fiscal figures.
At the time, Suen said that the battle he waged with Adelson because 2004 had been”worthwhile” for what he called”the feeling of justice” Sands attorney James Jimmerson and suen lawyer John O’Malley called it a fair conclusion to the instance.
A $96 million settlement would surpass jury judgments against Sands of 70 million in 2013 and $44 million in 2008 after federal court trials.
The Nevada Supreme Court upheld jury findings Sands was liable for damages but said that a new jury must determine Suen should receive.
Trial was stopped by the settlement ahead of another day of testimony that was videotaped by Adelson, the sickly 85-year-old board chairman, CEO and Republican national party priests.
Business lawyers say he is being treated for cancerand he’s been struggling with appearing in person due to his health in court.
Suen had no written contract but said he had been guaranteed a $5 million”success fee” when Sands obtained approval by the Chinese authorities to start a Macau casino, also 2% of profits over the 18-year life of a permit. Sands now owns five properties in Macau.
Additionally, it possesses the Palazzo and Venetian hotels and Sands Expo Center on the Las Vegas Strip and a resort in Singapore. It sold a property.
Business stock closed Wednesday at $67.91down 24 cents.