Gambling Stanley Ho property turmoil will not be in court

Ban gambling Stanley Ho Property Disposal Storm, in the January 26 twists and turns. At the noon of 26th, Mr. Ho, in his three-wife home, read a statement to the media. Accompanied by his granddaughter He Shuyin and wife, he said the controversy had made himself and his family unhappy, and that he loved his family and would not take the legal action of "You Sue me, I sue you".　　He thanked his private lawyer, Gao, for his intervention, saying that he was no longer in need of his services and dismissed the latter. Despite Mr Ho's appearance, the seeds of clashes between his four-room family have been buried. Mr Ho's wife, who has not been involved in the controversy, has spoken to the outside world. "My father often talks to me and has openly stated his intention to distribute his assets equally to the children."　　"Stanley wife Li Wanhua, He Suchen, said in a statement 26th. Behind this elusive and unpredictable dispute is the fact that the tycoon, which has almost single-handedly built Macau's gaming industry in the past 40 years, is increasingly making money, with an increase of $1 billion trillion in personal wealth in 2010 alone.　　The leaping development of the Macao gaming industry has made it difficult for all parties to move away from the betting assets. Statement war: Bizarre plot transition in the 25th Australian Entertainment Equity dispute escalated, wife late that night to summon the media, read out two have a signature confirmed Mr Ho's statement. Among them, Mr Ho said in a handwritten statement that he was in good health, "family affairs, close door-to-door family to solve their own, easy, slowly talk!"　　"refers to the so-called dispute is a misunderstanding, there is no cheating element."　　Wife also read another statement signed by Mr Ho, the statement also said in the first person, "I hereby make a special statement that I have announced to the Australian entertainment, SJM Company's share distribution to the family members of the arrangements is that I am absolutely sincere, no one is compelled or instructed."　　The statement said the contents of the signed words "must not be true" and should be sanctioned by law if a note signed by Mr Ho on the following day was "amended or proposed to change the share allocation". Most notably, the statement concluded that "I decided to withdraw all legal action arising from the Lanceford equity allocation".　　Mr Ho also said he would cancel his appointment to Gao and his lawyers, and that it was entirely up to wife.　　The two statements were countered by Gao on the morning of 26th, saying wife could lose 1 billion of billions of dollars in the dispute and not be bothered by the statements they read. On the 26th afternoon of the standoff, Mr. Ho, who had been in a television interview at wife's home, said he had always loved his family and had never had a legal dispute with each other for ten years. His speech was similar to the statement read out by wife on 25th, and once again expressed the need for GAO services.　　He said his statement could be implemented 25 nights later. However, Gao, who was "dismissed", came to visit after he returned to his mansion in Qianshuiwan with his four Leong and left after about half an hour's stay. HeLater said that he was still the representative of Mr Ho's lawyer. He Suchen's statement also indicated that only two of the children had been cut off from the three-too-much property, and that the family had not yet been unanimously nodded. "It's hard for me to believe that my dad will leave nothing to my mom's family, her relationship with Portugal and her position in the Macao community are a big reason my dad was able to get a gaming franchise."　　"He Suchen said. Behind the competition: How much money did Stanley Ho have in the glittering casino? According to Forbes ' latest report on the 40-person list of Hong Kong's richest people, the Australian president, with 3.1 billion dollars in assets, climbed from 17th place in 2010 to 13th place in 2011.　　On the list, Mr Ho is followed by another Macao gaming tycoon, Galaxy Entertainment (27.HK) Chairman Lu Zhihe, whose assets were estimated at $3 billion trillion, just a year ago, when Forbes thought its personal wealth was 1.47 billion dollars, far worse than today.　　The rise of casino bosses ' fortunes was the triumph of Macao's gaming industry in 2010: In the past 2010, Macao's gaming industry recorded a record of 188.34 billion Macao dollars, up 57.8% from 2009.　　At the time of his family's infighting, the new round of expansion in Macao's gaming industry is Jianzaixianshang, with a $14.1 billion trillion-dollar galaxy holiday city set to open at the end of March, with Citi conservatively predicting a 8.9 million-dollar and 113 million-dollar profit-tax depreciation amortization for 2011 and 2012 respectively. As for the completion date, the sixth phase of the Golden Road, which was postponed due to labour problems, is expected to be opened in early 2012.　　Even Macau MGM, which has always been conservative in its expansion, has made a statement to expand into the city of Macau as its Hong Kong IPO nears, making it the latest participant in the further expansion of the city of Taipa, along with Wynn Macau. "If you did Hong Kong at any time, we'll go to Lan Kwai Fong without being drunk," he said. "In October 2010, the CEO of a VIP gaming intermediary company did not conceal his disappointment in an email sent to this reporter because he had to dissolve the VIP betting intermediary company he had served."　　The reason is that the company had as many as 3,000 High-stakes clients in November 2009, allowing the company's US investors to see the Macao gaming market hot, and decided to withdraw their funds. The intermediary model created by the Australian broad shareholder Australia, which was opened decades ago by Mr Ho, has made the VIP betting intermediary industry an important force for Macao's gaming industry, and they are in control of most of the High-stakes list, and the casino must work with it to get a big gamble, at the expense of The intermediaries assume the risk of capital for casinos by providing a bargaining chip or a loan to a high-stakes gambler.　　In general, VIP betting revenue accounts for about 70% of Macao's betting receipts. The intermediary borrows the stacking code to promote all the Macao gaming industry gear rotation. Because the mainland VIP gamblers can not carry a large amount of renminbi into Macao, so its gambling to the third party to borrow into the Macao dollar, anotherOn the one hand, casinos are not able to reclaim the gambling money owed by VIP gamblers in the mainland and the intermediaries can do the same for the casinos.　　In order to enhance the efficiency of the VIP casino, after the intermediary's own money lent, the casino is often willing to inject a small amount of money, so that it can continue to introduce new VIP gamblers, a small amount of capital injection theoretically can be in one months turnover 8-12 times, the lever efficiency is very high.　　Feng, director of the Gambling Institute at the University of Macau, believes that ample money from the intermediary industry is driving up the revenues of betting, which is inseparable from the continued influx of hot money into Macau. "Since 2010, hot money has been looking for the best investment channels, and they are flocking to Hong Kong mansions, Hong Kong as a free port status, capital Exchange is very convenient, the most suitable for hot money fast forward, but when the Hong Kong government is also worried about property prices, The hot money that has not had much choice has chosen to enter Macau's VIP betting intermediary industry even directly to gamble.　　Feng that the Macao gaming industry's climax in the recent December was likely to be the result of money being paid in Macau by the last-minute hot money that was intended to be made at the end of the year. "Our new customers are keen to invest in the gambling stocks (note: The short name of the Hong Kong market for the Macao gaming companies)." "said a researcher at a boutique investment bank. In addition, there are a large number of foreign investors, simply around the gambling stocks, since 2009 has been a large number of direct investment in the intermediary industry, because according to the different mode of partition, the casino needs to pay the intermediary 42-48% gambling revenue, lucrative.　　As there are few intermediaries on the market, it is impossible to count how much money has flowed into Macau. Hot Money Hurricane "We have not found that the personal wealth of VIP gamblers has been adversely affected in the past year's regulation, whether it is to raise the bank reserve requirement ratio in January-February, or the real estate regulation in the mainland in March-April and the subsequent restrictions on purchase, and even the October rate hike, our business has been stable If there is no big increase.　　"The Vice president of Macau's VIP betting intermediary, who would not be named, understands the record revenue of 2010 years. "We used to run a VIP casino at the lower end of Macau during the financial crisis, it turned out that our gamblers ' appetite for risk was significantly smaller, and that same year we entered the new VIP table in Macau, where the VIP punters were even more lavish than before the financial crisis.　　Macau MGM is famous for attracting a large number of high-end VIP gamblers. "The property market fell and the stock market, the stock market fell and other alternative investment, not to mention that the property market has really plunged?" Not。　　"The vice president summed up the conclusion that asset price strength has not diminished the wealth effect. One important corroboration is that the "March cycle" of VIP betting intermediaries can be said to have shown no negative results in 2010. Feng explained that the intermediary to lend the money as a whole recovery cycle is 3 months, so whenever the mainland's new regulatory measures implemented, in theory, after 2-3 months can be seen will lead to an increase in non-performing loans. What can be argued is that, in 2010 3-April, after the introduction of the mainland real estate control measures, Macao betting revenue although in June from the high on the chain fell 20%, but to May, betting receipts rose 20% and slightly 3%.　　Since August is the off-season for VIP gamblers to Macau, the data for the month will not be able to account for any significant problems. "The rate hike in mainland China is only marginally modest, albeit at a much higher rate than in the past decade," he said. Up to now, China's rate hike does not seem to have a significant impact on the credit situation of the VIP betting intermediaries.　　A spokesman for the Macao Gaming Supervision and Coordination Bureau responded to our correspondent. In the face of soaring gaming revenues, the Macao government began to move in its November 2010 policy address by limiting the number of Macau tables (including the VIP table) to 5500 levels in 2013, and then rejecting Sands China in December (1928.HK) Application for the seventh and eighth phases of the Golden Road.　　The source said that SJM subsequently filed an application for the same plot, hoping to take the land from his opponent's mouth, but the same was dismissed. Related reports: Mr Ho confirmed that the Australian Entertainment Equity grant to Fang three room gambling king Stanley Ho's Calligraphy property distribution Rashomon The mystery not to be solved late Mr Ho declared that he was not under duress. The King of the gambling division was closed to the wind