By Kate O'Keeffe and Alexandra Berzon 

Las Vegas Sands Corp. has agreed to pay more than $75 million to settle a case brought by its former Macau chief executive, according to a person familiar with the matter.

The settlement, reached Tuesday, resolves all claims brought by the casino operator's former Macau chief executive, Steve Jacobs, against the company, its subsidiaries and its controlling shareholder, Republican megadonor Sheldon Adelson, according to a company statement to the Hong Kong stock exchange.

The settlement involves between $75 million and $100 million, according to the person familiar with the matter.

Mr. Jacobs's wrongful termination lawsuit had been set to go to trial in Nevada in September.

Mr. Adelson sued Wall Street Journal reporter Kate O'Keeffe for libel in 2013. A spokeswoman for the Journal, which wasn't named in the suit, has said the newspaper would continue to vigorously defend Ms. O'Keeffe.

Write to Alexandra Berzon at alexandra.berzon@wsj.com

 

(END) Dow Jones Newswires

May 31, 2016 23:53 ET (03:53 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Las Vegas Sands (NYSE:LVS)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Las Vegas Sands Charts.
Las Vegas Sands (NYSE:LVS)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Las Vegas Sands Charts.