
The big three of the Black Friday debacle are not the only casino owners facing investigation. A subsidiary of the Vegas based Sands Casino, Sands China has been working with the Hong Kong Securities and Exchange Commission since March of this year. The investigation is part of the fall out caused by the dismissal of former CEO Steven Jacobs.
Apparently Jacobs considered his dismissal from Sands China unfair and without cause. He filed a grievance against the company. During the mud slinging Jacobs accused Adelson (head honcho at Sands) of being influenced by outsiders in the running of his Asian locations. The implied meaning was that Asian mafia or black marketers were interfering with the running of the casino.
After months of investigation the Hong Kong SEC have dropped the case. That isn't the end of it of course. The American SEC and the U.S. Depart of Justice are still investigating the matter. This may be a little difficult when not actually in the same country as the problem. It seems to be a case of having to put their two cents in to make sure their legal behinds are covered.
The Sands China casino is based in Macao. Macao is the only province of China that allows for legal gambling. It just happens to be the largest gaming center in the world. The company's influence in the region stems to three casinos, an entertainment venue, a ferry and a series of shopping malls. Their success could greatly influence the economic future of the region. Perhaps the investigation was stopped for more than one reason.