LV SANDS: Executive’s exit not tied to investigations, official says

rupt Practices Act.

The allegations were raised in a wrongful termination lawsuit filed by the former chief executive of the company’s Macau casino operations. The case is pending in Clark County District Court.

In April, Las Vegas Sands severed ties with PricewaterhouseCoopers LLC, which had been its outside auditor since 2004, and appointed Deloitte & Touche LLP.

In an April SEC filing, Las Vegas Sands said the company had not had any “reportable disagreements” with the auditing firm going back to 2011.

Reese said Kay’s departure “had absolutely nothing to do” with the investigations or the change in auditors.

J.P. Morgan gaming analyst Joe Greff told investors he was “frustrated with what we’d characterize as a self-inflicted negative headline.” However, he said he was still supportive of the company as an investment, given its growth potential and balance sheet.

“While this is another negative headline, we do not think investors should read into this personnel change that it relates to any negative event,” Greff said.

Before joining Las Vegas Sands, Kay served as senior executive vice president and chief financial officer of CB Richard Ellis Group Inc.

Kay also served as chief financial officer for Dole Food Co. Inc., Universal Studios Inc. and several other publicly traded companies, as well as having worked for PricewaterhouseCoopers.