Deals
Billionaire Ho Accelerates Handover of Casino Empire
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Billionaire Stanley Ho gave most of his stake in the parent of SJM Holdings Ltd. to family members, accelerating the handover of his Macau casino empire 10 months after the 89-year-old chairman left the hospital.
Ho gave up a 31.7 percent stake in Sociedade de Turismo e Diversoes de Macau to two companies owned by members of his family, according to a statement from SJM, Asia’s largest casino operator. He “no longer has an attributable interest” in STDM, as the parent is known, the statement said.