Sands probed over mainland payments

PUBLISHED : Wednesday, 04 March, 2009, 12:00am
UPDATED : Wednesday, 04 March, 2009, 12:00am

Macau casino developer Las Vegas Sands Corp says it is being investigated by the State Administration of Foreign Exchange (SAFE) for payments made by its mainland units to 'counterparties and other vendors in China'. The company says the regulator is looking into payments its wholly owned foreign enterprises made 'to conduct non-gaming marketing activities in China and to create goodwill in China and Macau for the [firm's] operations in Macau'. It says it is co-operating fully with SAFE and it does not expect the probe to affect its finances.