The Boston Globe is reporting that the Las Vegas Sands Corporation has filed a lawsuit against its now-former CEO of its Macau gambling operations, alleging misappropriation of trade secrets. A court hearing in Las Vegas regarding the return of documents and data is scheduled for October 18th.
Las Vegas Sands is claiming that former CEO Steven Jacobs stole and refused to return sensitive company materials. "Jacobs was privy to a host of sensitive LVSC company information that, if revealed, could and would harm LVSC's business and gaming operations," the company said in court filings.
Jacobs oversaw the company's three casinos in Macau for more than a year before he was fired last summer. He has filed a wrongful termination lawsuit against the company and owner Sheldon Adelson.
Jacobs claims Adelson wanted him to use "improper leverage" against unnamed senior Macau government officials to help the company secure rights to sell apartments at its Four Seasons Macau. Jacobs also claims Adelson wanted him to employ a Macau attorney who held a government position.
We haven't seen either side's legal papers yet but these suit-countersuit cases routinely fizzle out in settlements and we'll keep you apprised of how this one plays out.