Macau and the Stanley Ho Casino Dispute

The head of Macau's gambling authority indicated this week that the government wouldn't interfere in a share-transfer dispute between local casino kingpin Stanley Ho and two of his daughters, the Dow Jones News Wire reported last week.

Gaming Director Unconcerned

According to the report, Manuel Joaquim Das Neves, the director of the Gaming Inspection & Coordination Bureau, said that he was not concerned about changes in family ownership of the empire, which has become a major issue due to the 89-year-old billionaire's ailing health.

Ho revived a Hong Kong lawsuit earlier this month against two of daughters for failing to return promised assets to him. A lawyer representing the tycoon said he was planning to split his assets equally amongst his entire family, which includes 16 known children from four different women.

SJM Still Waiting on Ho Discussions

Neves told Dow Jones in an interview that the authority had contacted SJM Holdings, controlled by Ho, about the dispute, but was told that the company is still waiting to find out what emerges from Ho's discussions with his family.

Ownership changes at Macau casinos are subject to government approval.

Stanley Ho held a monopoly over the Macau gambling market until 2002, when the industry was reformed to allow the entrance of foreign companies such as the American firms Las Vegas Sands Corp. and Wynn Resorts Ltd.