US gaming head downplays greater regulatory risks

American casino companies operating in Macau should not be concerned with federal probes into Las Vegas Sands Corp (LVS) and its Macau subsidiary, said American Gaming Association president Frank Fahrenkopf.
“The only reason I think that the Securities and Exchange Commission and the Justice Department may be involved is the seriousness of the [lawsuit’s] allegations,” he said in an interview with Dow Jones Newswires in Macau.
Fahrenkopf, who yesterday presented LVS chairman Sheldon Adelson with a Visionary Award at the G2E Asia conference, played down the possibility US casino companies in Macau - Wynn Resorts and MGM Resorts International - could face greater regulatory risks as a result of unprecedented federal probes into LVS for possible lack of compliance with the Foreign Corrupt Practices Act, Dow Jones Newswires reported.
In March, Las Vegas Sands revealed it is being investigated by US regulators after former Sands China chief executive officer Steve Jacobs accused the gaming operator in a court case of using improper leverage against government officials.
“The interesting thing is that no action has been taken by Nevada regulatory authorities. No action has been taken by regulatory authorities here [in Macau],” said Fahrenkopf.