HONG KONG – Billionaire Sheldon Adelson's casino company is settling a long-running lawsuit with the former head of its Chinese arm.
Sands China said Wednesday that both sides "reached a comprehensive and confidential settlement" with Steven Jacobs, the company's former CEO.
Jacobs' wrongful termination case against Adelson and Sands China's parent, Las Vegas Sands Corp., had threatened to disclose boardroom decisions about how the company developed its lucrative interests in the Chinese gambling enclave of Macau.
Jury selection for the case had been set to begin June 27.
The announcement filed with the Hong Kong stock exchange said Jacobs dismissed all claims in Nevada state and federal court against Las Vegas Sands, its subsidiary Venetian Macau, and Adelson.