Ho Family Settles Macau Casino Dispute

Macau casino mogul Stanley Ho and members of his family said they settled a two-month-long dispute over a controlling stake in his multibillion-dollar empire in the world’s top gambling destination. A lack of details in a written statement issued by Mr. Ho left unknown who would control his casino company, SJM Holdings Ltd. And previous twists in the family dispute left open the possibility that further divisions could erupt.

Mr. Ho’s office issued a statement late Thursday in Hong Kong saying an agreement had been reached Tuesday. The settlement of the dispute was confirmed by his lawyer, Gordon Oldham, and representatives of Ho family members with whom the patriarch had been fighting. “All members of the Ho family have reached full and final agreement based on the principle of ‘mutual understanding and mutual accommodation,’ ” Mr. Ho’s statement said.

A settlement would bring to a close a bitter public dispute that clouded the future of the biggest casino operator in Macau, the only Chinese territory where casino gambling is legal. Mr. Ho held the casino monopoly for four decades in the former Portuguese colony, which returned to Chinese rule in 1999. Three years later, authorities allowed in other companies, and there are now six licensed operators, including Americans Sheldon Adelson and Steve Wynn, transforming the sleepy town into a neon tourist Mecca.

Grand Lisboa Hotel Macau

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