11/30/2022 0 Comments Casino tycoon 3![]() ![]() “He had been pressurised into making that statement.”įor centuries a sleepy Portuguese outpost down the South China coast from bustling financial hub Hong Kong, Macau made gambling its business in a region where most betting has long been illegal. He is trying to get his wealth back,” Oldham told Reuters in a telephone interview. “Regarding his statement on television, this was not his sentiment. ![]() The writ, signed by Ho, sought a reversal of the transaction and a declaration that the “shares were improperly and unlawfully allotted” while seeking an injunction to “restrain each of them” from making further share allotments or disposals. Ho’s lawyer, Gordon Oldham, said he had filed a court claim on Ho’s behalf against the children, including Pansy and Lawrence Ho, other relatives and companies, late on Wednesday.Ī copy of the court claim filed at Hong Kong’s High Court obtained by Reuters said Ho was suing his third wife and the five children of his second wife for issuing new shares in Lanceford, the main holding company for Ho’s interest in SJM, without his consent, effectively diluting Ho’s stake to nothing. The latest move in the zig-zag tussle for the 89-year-old tycoon’s billions of dollars of assets suggests an escalating scramble between factions of Ho’s family, which includes four wives and at least 17 children. Ho, chairman of Macau’s biggest casino operator, SJM Holdings, hours earlier had gone on television to say he would not sue and that he wanted to resolve the matter privately with his family. ![]()
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