Which company is holding the Las Vegas Sands Corp. to ransom?
The Las Vegas casino operator is trying to keep the company afloat after a series of missteps led to a massive collapse in revenue.
Fox News has learned that the company’s chief executive is seeking an out-of-court settlement with the state of Nevada to help pay off creditors and avoid another crisis.
In recent weeks, Sands has been struggling to stay afloat amid mounting losses, and the company was hit with a $1.4 billion judgment from the state in April.
The company is also battling for the fate of a second casino in Atlantic City, New Jersey.
The second casino, which has yet to open, has also been hit with lawsuits by creditors, but those cases have yet to be resolved.
The first casino in Las Vegas, Sands World Resort & Casino, was closed in September 2016 after failing to pay hundreds of millions of dollars in debts.
The Las Venenos Casino, which opened in 2007, closed in March 2017, after a $200 million bankruptcy.