Macau sweats on health of Casino boss
Posted by Chloe Flint on 12 Aug 2009 at 10:08
The Macau gambling tycoon Stanley Ho remained in hospital over the weekend as speculation about how his health could impact on the future of the former Portuguese colony gathered pace.
According to The Times, analysts have said a downturn in Mr Ho's health may spark a power struggle among his family and other interested parties for control of his considerable share of Macau's $14 billion gaming revenues.
The paper even said some in Macau believe that a serious downturn for Mr Ho could affect Macau's relationship with Beijing and shake the industry as a whole.
Macau is already battling the global downturn and has also had to face visa restrictions on visitors from China and growing competition elsewhere in Asia.
Mr Ho was taken to hospital last week, prompting some analysts to note that the tycoon has long remained quiet on any retirement plans, and has not publicly talked about succession.
Who exactly will take control of his SJM hotel and casino empire is also open to question.
Mr Ho has 17 children and two of them, Lawrence, 32, and Pansy, 45, could be among the favourites.
Both signed partnership deals with foreign casino operators after the Macau market was opened to international investment in 2002.
The Times added that there is also the issue of the ownership of STDM, which controls SJM.
STDM is divided up between the estate of Henry Fok, a late business partner of Mr Ho, and Cheng Yu-tung, a property tycoon.
