Published On: Tue, May 5th, 2015

Adelson denies “exorcism strategy” to fire Macau CEO

 Sheldon Adelson vs Steven Jaco

 

Billionaire casino mogul Sheldon Adelson spent his fourth day in a Las Vegas court room denying that he had a hand in the ouster of Sands China Ltd.’s president and CEO, Steven Jacobs back in 2010. He also denied any knowledge of an ‘exorcism strategy’.

Jacobs, who was fired in July 2010, later filed a lawsuit accusing Adelson, Las Vegas Sands and Sands China of ‘wrongful termination’.

Adelson did not hide his dislike for Jacobs’ leadership style, describing him as “pompous, arrogant and condescending” on the witness stand.

The 81 year-old billionaire was visibly irritated by Jacobs’ lawyer, James Pisanelli’s persistent line of questioning. At one point, calling him a “stand-up comedian.” Adelson maintained that Las Vegas Sands, the company he heads as Chairman and CEO, had nothing to do with Jacobs’s termination.

Adelson acknowledged that he and Michael Leven, both Sands China Ltd. board members, discussed ousting Jacobs in Las Vegas, but Adelson said that these deliberations could have taken place anywhere – not necessarily in Las Vegas.

The question about location is of certain legal importance as Chinese state regulations prohibit a company listed in that country from being controlled by a foreign entity.

Appearing for the fourth day as a witness in the trial, Adelson did not show signs of weariness and at times relished the legal confrontation.

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