Casino operator Las Vegas Sands has agreed to pay US$47.4 million after failing to flag millions of dollars in money transfers made by a Chinese-Mexican linked to drug trafficking who became one of the biggest gamblers the world has ever known.
Sheldon Adelson bought the famous Sands Hotel in Las Vegas in 1989, then opened the Sands Expo and Convention Center across from the hotel. In 1996, the Sands Hotel was demolished to make room for The Venetian, which was completed in 1999. Adelson has expanded the group into Asia, with hotels and casinos in Macao and Singapore.
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