The Straits Times
Marina Bay Sands paid a price for courting China s whales
Marina Bay Sands says it has cut back on third-party transfers and tightened security over their usage.ST PHOTO: SHINTARO TAY
PublishedDec 24, 2020, 9:19 am SGT
https://str.sg/JRMd
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Adelson s MBS casino paid price for courting China whales
businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
Marina Bay Sands caught in net of whales and murky waters of third-party transfers
businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
Adelsonâs Singapore Casino Paid a Price for Courting Chinaâs âWhalesâ
Dec 24 2020, 1:55 PM
December 22 2020, 3:52 AM
December 24 2020, 1:55 PM
(Bloomberg Businessweek) When Chinese businessman Wang Xi first gambled at Sheldon Adelsonâs Marina Bay Sands casino in Singapore, he hit the jackpot, winning $3.7 million. After more wins in later trips, his luck turned sour and he racked up millions in losses. After one particularly tough day in the high-roller room, he threw a water glass at a staff member, and brought his father in to review his accounts, according to document.
(Bloomberg Businessweek) When Chinese businessman Wang Xi first gambled at Sheldon Adelsonâs Marina Bay Sands casino in Singapore, he hit the jackpot, winning $3.7 million. After more wins in later trips, his luck turned sour and he racked up millions in losses. After one particularly tough day in the high-roller room, he threw a water glass at a staff member, and brought his f
The allegations of fraud focus on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Bloomberg reported on September 16, 2020, that Las Vegas Sands Singapore casino, Marina Bay Sands, has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers money to third parties[.] Singapore s Casino Regulatory Authority stated there were weaknesses in [Marina Bay Sands ] casino control measures pertaining to fund transfers[.] Based on this news, shares of Las Vegas Sands fell by 4.2% on the same day.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 21, 2020.