blogs  
 
yournews
   
 
Video Photos Finance Travel Weather Discussion TV Shows
| |
 
  Home ›
 
Business News

 

Macau casino mogul denies triad links
Posted: 18 March 2010 2327 hrs

  Stanley Ho
 
Photos  of

   
 


HONG KONG: Macau casino mogul Stanley Ho on Thursday rejected claims by US gaming regulators that he has any links to the city's criminal underworld, the Wall Street Journal reported.

In a statement issued through his personal secretary, Ho said there was "absolutely no foundation in any suggestion" that he is associated with triads in the former Portuguese colony, the paper said.

His secretary was not immediately available when contacted by AFP.

Ho, who controlled Macau's gaming sector for four decades until it opened to foreign competition in 2002, has long denied rumours that he was tied to organised crime and allowed triad gangs to operate freely in his casinos.

His comments on Thursday come after a previously confidential report by New Jersey's Division of Gaming Enforcement was made public on Wednesday.

The report last May told Las Vegas-based MGM Mirage to cut any business ties with Ho's daughter Pansy after deeming her "unsuitable" because of the elder Ho's alleged triad links, or risk losing its state gaming licence.

But MGM on Friday said it would unload its 50 percent stake in the Borgata hotel-casino in Atlantic City in New Jersey so it could keep a joint venture with Pansy Ho in the glitzy Asian gambling hub, which has now leapfrogged Las Vegas in terms of gaming revenue.

Pansy Ho declined to comment on Thursday but has previously said she was independent of her father despite their business ties.

The gaming tycoon's Hong Kong-listed SJM Holdings remains a major player in Macau, the only city in China that allows casino gambling. - AFP/de

 


Other business News
Greeks strike in defiance of EU ultimatum on debt
Australian central bank cuts growth forecasts
China releases Jan trade data
Asian markets slip on Greece bailout fears
Indian factory output slows sharply in December
Flights back to normal Friday after strike: Air France
Barclays bank reveals drop in profits, cuts bonuses
Impact of Thai floods continues to affect firms
Zuma hailed for US$40b railway, port scheme
Hong Kong faces labour shortage
M'sia trade expected to grow at slower pace
Eurozone sets conditions for Greek bailout
Euro edges up as Greece inks reform deal
US stocks gain on Greece, bank mortgage deal
Oil prices rise on Greek deal
Eurozone stalls Greek cash aid pending new conditions
Banks agree US$25b deal for US homeowners
China says January exports expected to have dropped
Greece says agreement reached on austerity measures: ECB
ECB holds key interest rate steady at 1.0%
OPEC cuts 2012 oil demand forecast

 

 
Affiliate Sites:
 
About Us  |  Contact Us  |  Advertise with Us  |  Terms & Conditions