03/28/2008 05:12 am ET | Updated May 25, 2011

Casino Billionaire Wins Libel Damages After Being Called "Cut-Throat, Ruthless and Despicable"

American casino billionaire Sheldon Adelson won damages in London's High Court Wednesday after a newspaper accused him of "cut-throat, ruthless and despicable" business practices.

His lawyers said the settlement was one of Britain's most expensive libel actions and would cost the Daily Mail's owners about 4 million pounds ($8.06 million) in damages and costs.

Adelson, described by Forbes magazine as the world's 12th richest man, sued over a story which his lawyer Gideon Benaim said was false, distressing and embarrassing.

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