Apollo is seeking a Nevada gaming license to purchase the Las Vegas Sands’ local properties.
Leon Black, the founder and former CEO of Apollo Global Management, has no plans to return to the company’s board of directors that he once chaired.
“Mr. Black has advised Apollo that he won’t be standing for nomination to the Apollo Board,” according to Steven Lipin, CEO of the public relations firm Gladstone Place Partners, which represents Apollo.
On Tuesday, AGM filed a document with the Securities and Exchange Commission that would allow Black’s return. He stepped down last year amid revelations that he paid convicted sex trafficker Jeffrey Epstein $158 million.
Black is also alleged in a lawsuit to have made $100,000 monthly payments to a woman with whom he was involved to keep their relationship quiet. Last year Vanity Fair cited sources in reporting Black is under criminal investigation by the Manhattan District Attorney. No charges have been filed against him.
AGM is seeking a Nevada gaming license to purchase the Las Vegas Sands’ local properties.
“All directors are subject to nomination of the independent Nominating and Corporate Governance committee and approval of a majority of stockholders,” AGM said in a statement. “Leon Black has advised the company he has no intention to seek nomination.”
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