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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
