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Las Vegas Sands Fined for foreign bribery allegations

LAS VEGAS SANDS PENALIZED AGAIN
 
Sheldon Adelson's company settles for a $6.96 million penalty on foreign bribery allegations.
 
Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.
 
This time it's a $6.96 million criminal penalty which halts a federal US Department of Justice probe into allegations that the company contravened federal anti-bribery laws through questionable payments to a consultant in respect of business conducted in China and Macau, according to a Reuters news agency report.
 
The settlement includes a no-prosecution agreement with the authorities, and an admission by Sands that its executives failed to set up accounting controls to ensure that the payments were legitimate, and were properly recorded in its books and records.
 
The allegations stem from an investigation in 2006-2009 which showed that LVS transferred around $60 million to the consultant to promote its business and brands, and paid him about $5.8 million without any "discernible legitimate business purpose".
 
Under the Foreign Corrupt Practices Act US companies are prohibited from bribing foreign officials in order to win business concessions.
 
The current penalty follows a related case last year in which LVS  agreed a civil settlement of $9 million with the U.S. Securities and Exchange Commission over its dealings with the consultant. In that settlement investigators found that the consultant was used as a front man to conceal the company's effort to buy a team in the Chinese Basketball Association, which barred gaming companies from ownership, and part of a Beijing building despite a casino gambling ban in that place.
 
The current settlement documentation notes that LVS had been cooperative and has taken remedial measures.
 
LVS now awaits the outcome of another investigation, this time by the Nevada Gaming Control Board, into allegations that it has used surrogates to conceal the identities of Chinese high rollers who wish to remain invisible to their government due to a clampdown in that country.    



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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