..

Stanley Ho Macau Casino Empire Stake Goes to Family

Written by:
Aaron Goldstein
Published on:
Jan/24/2011
Stanley Ho

89-year-old Billionaire Stanley Ho transfers most of his stake in Macau gambling company to family members. Worth 13.4 billion HK dollars.

Ho’s 31.65 per cent stake in STDM will be roughly split between his third wife, Chan-un-Chan, and his second wife’s five children - Pansy Ho, Daisy Ho, Maisy Ho, Josie Ho and Lawrence Ho.

“There was a concern among shareholders that there would be a bun fight [for control of the company], but that seems less likely, given these actions,” said Philip Tulk, an analyst with RBS.

In recent years, Pansy Ho has maintained 50 percent ownership in a join venture with the MGM Macau. 

Over the past year, Stanley Ho has been recuperating from a bad fall that required brain surgery. Ho was discharged from the Hong Kong Sanatorium and Hospital in March of last year.

Macau is the biggest gambling destination in the world with unprecedented growth occurring over these past 12 months despite a global recession.  At one time, Stanley Ho controlled all of it.

His vast empire expanded into the online realm.  Adam Anhang, who was brutally murdered in San Juan, Puerto Rico, by a contract killer hired through his estranged wife, once managed Ho’s live dealer online casino in Antigua. 

- Aaron Goldstein, Gambling911.com

Business/Financial News

Square Makes Big Bet on Bitcoin

Square Makes Big Bet on Bitcoin

Square, Inc. (NYSE: SQ) announced that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose. The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020.

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Corp is an under-the-radar play on US sports betting, the headline reads for Wayne Duggan's report at Yahoo Finance!

John McAfee Arrested for Tax Evasion

Cybersecurity entrepreneur and crypto personality John McAfee was arrested in Spain on Tuesday for US tax evasion.

Virtual Event: How The Gaming Industry Can Benefit From Bitcoin Technology

Virtual Event: How The Gaming Industry Can Benefit From Bitcoin Technology

Friday is a "must see" virtual event for gaming enthusiasts as well as those in the crypto space looking to expand their horizons.

Bitcoin and eSports: Bitcoin SV One World Chain Virtual Continues (Videos)

Bitcoin and eSports: Bitcoin SV One World Chain Virtual Continues (Videos)

The Bitcoin SV One World Chain virtual conference concludes Thursday with hot topics that include Making Bitcoin Easy to Use for Everyone, eSports and the Blockchain with Unikrn co-founder Rahul Sood, and the cashless casino.

Syndicate