Though the bulk of Sheldon Adelson's news appearances of late have involved his giving ridiculous amounts of money to Newt Gingrich's flailing campaign, the multibillionaire is making news today for a $375 million lawsuit involving his casino company.The New York Times' Neil Gough reports that the lawsuit involves a gambling license in Macau. "The suit accuses Las Vegas Sands of improperly breaking off a 2001 agreement to bid for a Macau casino license, according to a copy of the court filing. The Macau suit is the latest of several legal actions that have sought to challenge how Mr. Adelson’s company won the right 10 years ago to develop gambling resorts in Macau, which has since grown to become the world’s biggest casino market." If that's not bad enough, Reuters reports, Adelson's Las Vegas Sands is also currently being investigated by the SEC and the Justice Department for violating the Foreign Corrupt Practices act.
That $375 million is a lot more than the $10 million Adelson has given to Gingrich over the past few weeks, (and still more than the than the $100 million he told told Forbes he'd be willing to give), but it's really more like the change that falls between the sofa cushions for someone reportedly worth $24.9 billion.
This article is from the archive of our partner The Wire.