By Ronald Grover and Sue Zeidler

(Reuters) – The Democratic Congressional Campaign Committee retracted statements it made linking Las Vegas Sands Chief Executive Sheldon Adelson with funds it said came from “Chinese prostitution money” and that it said had been contributed to Republican congressional candidates.

“In press statements issued on June 29 and July 2, 2012, the DCCC made unsubstantiated allegations that attacked Sheldon Adelson, a supporter of the opposing party,” the Democratic committee said in a statement. “This was wrong. The statements were untrue and unfair, and we retract them.”

HONG KONG/LOS ANGELES (Reuters) – The Macau government has launched an official investigation into Sands China, owned by billionaire Sheldon Adelson, after the company transferred documents linked to a wrongful dismissal case to the United States from Macau.

It is the latest twist in a saga that has become a firestorm for the casino mogul, who owns casinos in Las Vegas, Macau and Singapore and is the most active donor in U.S. Republican candidate Mitt Romney’s presidential campaign.

LOS ANGELES/HONG KONG (Reuters) – Las Vegas Sands Corp (LVS.N: Quote, Profile, Research, Stock Buzz), owned by billionaire Sheldon Adelson, posted much worse-than-expected quarterly earnings, hit by lower profits at casinos in its key Asian markets that had previously helped offset flagging U.S. revenue.

Adelson, the most active donor in U.S. Republican candidate Mitt Romney’s campaign, has benefited from the company’s sizable footprint in Asia compared with rivals such as Wynn Resorts (WYNN.O: Quote, Profile, Research, Stock Buzz) and MGM Resorts (MGM.N: Quote, Profile, Research, Stock Buzz), but global economic malaise is now taking a toll in Macau and Singapore.

LOS ANGELES, July 25 (Reuters) – Las Vegas Sands Corp
earnings fell, missing forecasts, as its “hold,” or
money won from gamblers, fell at its casinos in Las Vegas, Macau
and Singapore, and legal fees rose, sending its shares down 5.8
percent in after-hours trading.

The company, best known in the U.S. for its Italian-themed
Venetian resort in Las Vegas, reported second-quarter net income
of $240.6 million, or 29 cents a share, compared to $367.6
million or 45 cents a share, in the year-ago quarter.

LOS ANGELES, June 29 (Reuters) – CBS Corp is in
settlement talks with cast members of the popular 1970′s TV show
“Happy Days” to end a legal dispute over revenues from the
sitcom’s merchandise, an agreement that could have broad
ramifications for how TV actors are compensated.

Representatives for the actors, who include Anson Williams,
Marion Ross, Don Most, Erin Moran and the widow of Tom Bosley,
began negotiations with CBS after a California judge ruled
earlier this month that their case could go forward, according
to two people with knowledge of the talks who asked to remain
anonymous.

LOS ANGELES (Reuters) – The government-run China Movie Channel will launch an online service like Netflix Inc in China this year, promising a big new revenue source for Hollywood from streaming its films and TV shows to subscribers in the world’s most populous nation.

The new service is set to open in the fourth quarter, according to its backers, who say they have signed their first content agreement with a major Hollywood studio.

LOS ANGELES, June 28 (Reuters) – The government-run China
Movie Channel will launch an online service like Netflix
in China this year, promising a big new revenue source
for Hollywood from streaming its films and TV shows to
subscribers in the world’s most populous nation.

The new service is set to open in the fourth quarter,
according to its backers, who say they have signed their first
content agreement with a major Hollywood studio.

LOS ANGELES, June 21 (Reuters) – In the latest skirmish
between Las Vegas mogul Steve Wynn and Wynn Resorts’ one-time
largest shareholder, a federal judge ordered the legal battle
with Japanese billionaire Kazuo Okada to be moved back to the
Nevada state court.

The decision sends the case back to the same court that
previously frustrated Okada’s attempts to access Wynn Resorts’
financial records. Okada, in his suit in January,
alleged that the casino company’s $135 million donation pledge
to the University of Macau Development Foundation was
“inappropriate.”

LOS ANGELES (Reuters) – William Hill (WMH.L: Quote, Profile, Research), Britain’s largest bookmaker, said on Thursday it has won approval from Nevada regulators to become the first British betting service to run a sports book in the state.

The green light from the Nevada Gaming Commission allows the British firm to begin offering sports betting on mobile devices to bettors in Nevada, and positions the company to be among the first out the gate should legal restrictions on U.S. online gaming be lifted.

LOS ANGELES, June 21 (Reuters) – William Hill,
Britain’s largest bookmaker, said on Thursday it has won
approval from Nevada regulators to become the first British
betting service to run a sports book in the state.

The green light from the Nevada Gaming Commission allows the
British firm to begin offering sports betting on mobile devices
to bettors in Nevada, and positions the company to be among the
first out the gate should legal restrictions on U.S. online
gaming be lifted.