Las Vegas Sands says it fired former Sands China chief executive officer Steven Jacobs because he was working on unauthorised deals and made multiple violations of company policy. Sands China is the Macau subsidiary of Las Vegas Sands. One example cited by the company is negotiating a transaction with “Harrah’s” for certain development sites (site 3 and or sites 7 and 8). However, the nature of the deal is unknown. A deal with Playboy was also signed, with Mr Jacobs failing to obtain proper prior authorisation, Las Vegas Sands argues. Apparently, this may be a reference to the new Playboy club in Sands Macao. The claims are made in Mr Jacobs’ termination letter, included in a court filing by Las Vegas Sands in the case against him Mr Jacobs by the company, as reported by the Las Vegas Sun. According to the 5 August 2010 termination letter from Venetian Macao (Las Vegas Sands claims this was Mr Jacobs’ actual employer), Mr Jacobs “repeatedly acted in a manner which exceeded your authority and failed to keep the board of Venetian Macao Ltd. or Sands China Ltd. informed on important business decisions and other actions that you took on behalf of the company and its subsidiaries, including those which exceeded your authority.” Mr Jacobs is looking for compensation from Las Vegas Sands for his termination. He argues he was fired because he resisted demands from the company’s chairman and CEO, Sheldon Adelson, for him to engage in improper and illegal activities.
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