Deals
Billionaire Ho Demands Return of Macau Casino Stake
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Billionaire Stanley Ho demanded family members return the bulk of his Macau casino fortune by tomorrow or face legal action as an ownership dispute threatens to split Asia’s biggest gambling empire.
The transfer of most of Ho’s assets to six family members, disclosed in a Jan. 24 statement, was done without his consent, and the 89-year-old patriarch gave his lawyers “very clear” instructions to recover them, Gordon Oldham, senior partner at law firm Oldham, Li & Nie, said yesterday. The disagreement took another turn today when Oldham rejected family statements that everything was settled and he was being dismissed. He said he was still acting on Ho’s instructions.