{"id":7349,"date":"2011-01-24T02:01:37","date_gmt":"2011-01-24T02:01:37","guid":{"rendered":""},"modified":"2011-01-24T02:01:14","modified_gmt":"2011-01-24T02:01:14","slug":"Stanley-Ho-gives-up-ownership-in-Macau-casinos","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=7349","title":{"rendered":"Stanley Ho gives up ownership in Macau casinos"},"content":{"rendered":"<p><strong>Controversial Hong Kong billionaire Stanley Ho transferred nearly his entire ownership stake in his Macau casinos to family members, giving up control of the gaming operation.<\/p>\n<p><iframe title=\"YouTube video player\" class=\"youtube-player\" type=\"text\/html\" width=\"480\" height=\"390\" src=\"http:\/\/www.youtube.com\/embed\/sDByqCswF0A\" frameborder=\"0\" allowFullScreen><\/iframe><\/p>\n<p>In a filing Monday with the Hong Kong Stock Exchange, SJM Holdings said Ho, 89, the company&#8217;s chairman and chief executive officer, no longer has an &#8220;attributable interest&#8221; in the casino company.<\/p>\n<p><strong>International law enforcement authorities have long alleged that Chinese organized crime triads influenced the Macau casinos operated by Ho.<\/strong><\/p>\n<p><iframe title=\"YouTube video player\" class=\"youtube-player\" type=\"text\/html\" width=\"480\" height=\"390\" src=\"http:\/\/www.youtube.com\/embed\/A7PmZ7e3ss4\" frameborder=\"0\" allowFullScreen><\/iframe><\/p>\n<p><strong>The billionaire had a government granted monopoly on Macau gambling activities for almost 40 years until the Portuguese colony control was transferred to China at the end of 1999.<\/p>\n<p>Mr. Ho held a decades-long monopoly on Macau&#8217;s gambling market until the industry was opened to competitors such as U.S.-based operators Las Vegas Sands Corp. and Wynn Resorts Ltd. in 2002. But his company is still the largest player in terms of revenue, consistently garnering more than a 30% share. Macau generated four times the gambling revenue of the Las Vegas Strip in 2010. <\/p>\n<p><strong><em>Check out Steve Wynn&#8217;s opening ceremony for the Wynn Macau:<\/p>\n<p><\/em><\/strong><iframe title=\"YouTube video player\" class=\"youtube-player\" type=\"text\/html\" width=\"480\" height=\"390\" src=\"http:\/\/www.youtube.com\/embed\/_SvIyJEBC8o\" frameborder=\"0\" allowFullScreen><\/iframe><\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748703398504576101101504388170.html?mod=WSJAsia__LEFTTopStories\" title=\"SOURCE\">SOURCE<\/a><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Controversial Hong Kong billionaire Stanley Ho transferred nearly his entire ownership stake in his Macau casinos to family members, giving<\/p>\n","protected":false},"author":1213,"featured_media":72296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-7349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley ho-150x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley ho.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley ho.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley ho.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley ho.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/stanley 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