The revelation of Macao gambling King Stanley Ho's history four house dispute intensifies

Ho ho Data Map "New century" weekly mission Hong Kong reporter Wei "People are still alive, children can not wait to fight for wealth, even to court, which in Hong Kong is not unique, unheard of."　　A Hong Kong barrister has been lamenting the news of this newspaper. A week before the Lunar New Year of the rabbit, this is the day to look forward to family reunion. 89-Year-old "Gambling king" Stanley Ho, four-room wife and 17 children but failed to reunite.　　In order to compete for the assets of listed companies, a moment of change in the soap opera continues. This is the gambling operation of the "King of Gamblers" life's biggest bet, but also may be the last bet, chips is his life accumulated the most valuable wealth-Macau tourism and Entertainment Co., Ltd. (hereinafter called O Entertainment) control.　　The company owns a 56% per cent stake in Macao Gaming Holdings Limited, a gaming-listed company (00880.HK, hereinafter called SJM), which has a market capitalisation of about HK $66.2 billion and controls 17 casinos in Macau. "The King of Gamblers" is not a gamble, but he has the family interests and feelings.　　He had to gamble with complicated human nature. The history of the "King of Gamblers", in many people's eyes, resembles a legendary story in a popular novel. Born in November 1921, Mr Ho is a Toshihaya, Dutch-blooded Eurasian half-breed who speaks Portuguese, English and Cantonese.　　His father, He Shiguang, was a famous businessman in Hong Kong, and he served as a comprador, a member of the Legislative Council and the chairman of the three houses of East China. Later, the Father Stock Fry bankruptcy, run away from Vietnam, juvenile Stanley Ho also suffer from the poverty, taste inconstancy. One day, one of his teeth decayed hole, to find a dentist cousins Zhang, but was a cold shoulder: "You have no money, make up what Ah, unplug." In 1939, Ho Ho was admitted to the Faculty of Science of the University of Hong Kong. coincided with the "Second World War" outbreak, in 1941 Ho-ho, during the Japanese invasion of Hong Kong, fled to the neutral region of Portuguese colonial Macao.　　At that time only 10 yuan, this is his entrepreneurial capital. Mr Ho's "first bucket of gold" benefited from the Macau union Cheong Trading Company. By being able to speak fluent English, he was cited as the company's secretary, and good sense of the wind, the Quartet, quite appreciated.　　One year later, he was a partner of the company and won a dividend of HK $1 million from the company. After becoming the youngest tycoon in Hong Kong and Macao, Ho Ho entered the Macao Trade Bureau, which specializes in wartime material purchases. He realised that the cap business was hugely profitable and founded the S.H. with one of the founders of Hong Kong's Hang Seng.　　By the end of World War II, Ho Ho's wealth had accumulated to HK $2 million and had been involved in a number of businesses and industries such as bullion trading, drug agents, and match making. The king of gamblers returned to Hong Kong in 1953 with a joint venture with Li ' an construction company and a large number of Hong Kong government projects. By 1959, his net worth had risen from HK $3 million to HK $10 million. and the transition to a generation of Beikewen appeared in 1961 years. The 40-Year-old consortium of Mr Ho Fok Ying-tung, Yip and Salesian was at 5 of the closing timeThe tender was submitted minutes ago at a price of HK $3.167 million, which was only 17,000 yuan higher than the bid of the rival licensed Consortium Taixing, winning the casino franchise.　　The service opened 40 years for Mr Ho to Monopolize Macao's gambling business. Three years after Macao's reunification with the motherland, Mr Ho's dominance of the gaming industry ended. Foreign competitors were introduced, including Wynn Resorts (Macau) Co., Ltd., Galaxy Casino Co., Ltd.　　In the following 2003 years, 2005 and 2006, the above three companies and the Venetian group, MGM Jundian Hao Company Limited, the new Hao Melco Betting Co., Ltd. signed a transfer contract, licensed to operate the casino.　　However, the Ho family still occupies half of Macao's gambling industry, and Ho and his children, Pansy and Lawrence, still hold half of the six licensed licences. Thanks to the liberalisation of the mainland's "free trade" policy, Macao's gambling industry overtook the US Las Vegas in 2006 years and became the world's largest gaming centre. According to the Macao Gaming Supervision and Coordination Bureau, Macao's gaming revenue increased by 58% in 2010 to 188.343 billion Macau dollars (about $23.51 billion).　　The Macau Government Tourism Bureau announced that the number of inbound travellers reached 25 million in 2010, up 15% from the mainland of China and 30% from Hong Kong. Mr Ho's fortunes soared as the gambling kingdom surged, controlling 500 billion of Hong Kong dollar assets at the peak, with a personal wealth of HK $70 billion, among the top ten mega-billionaires in Hong Kong and Macao.　　In addition to operating a casino network supported by the Portuguese-Beijing casino, through investment and acquisitions over the years, Mr Ho's industry has spread across Macau's real estate, department stores, hotels, banks, television stations, airports, ferries, etc., and its investment territory extends to mainland China, Portugal, Vietnam and Canada.　　Four housing reform in addition to the huge gambling industry kingdom, the King of four wives and 17 children is quite good, by the local media called "Four Rooms 17 Jie", every move is the world's attention. However, this apparent harmony has tended to disintegrate over the past few weeks. To compete for a holding company Lanceford Co. Control, the four rooms and children of the dispute finally open.　　The company is the largest shareholder holding 32% per cent of the Australian entertainment, indirectly owning a 18% per cent stake in SJM, which is worth about 1.6 billion dollars. The four rooms are clearly divided into two camps, one with Fang and three houses, and the other by Fang and four. The scramble began on January 24 this year by SJM's announcement: Lanceford Co. Changes in equity, Mr Ho will hold about 31.6% of the Australian entertainment stake in the Fang children and three too, he only retained 100 common shares. Fang and room four had nothing in the distribution.　　By the end of last year, Mr Ho had transferred his 7.03% per cent stake in SJM to four Leong, raising the latter to 7.69% per cent. At 12 o'clock noon this year January 25, Mr. Ho at the Repulse Bay home, he represented a lawyer,Gao Lei, partner of law firm Oldham meet. According to a video provided by Gao, Mr Ho said clearly in English: "We must retake lanceford! When Oldham asked how the king of gamblers described the incident, he put his hands on his glasses and said, "It's Something like Robbery" (the incident was a robbery).　　He sued for the claim. The next morning, however, Mr Ho made the opposite remark to the public. He received three media interviews in three wife, announcing a written statement before the camera that he loved his family, didn't want to sue each other, and revoked Oldham's qualifications. It was the first time Mr Ho appeared on television to read a "reconciliation" statement to the public.　　At that time, the king of gamblers looked sluggish and stopped panting. January 26 4 o'clock in the afternoon, Mr Ho took a video of the second and Oldham dialogue at the Repulse Bay House, claiming he had been pressured by Fang's daughter, Pansy and Daisy, to read the statement. He acknowledged that Oldham was still his lawyer and hoped that he would continue the proceedings and enter the court.　　5 o'clock in the afternoon that day, Oldham on behalf of Ho Ho into the High Court, Sue Fang, three rooms, such as 11 people. January 30 11 o'clock in the morning, Mr. Ho took the third video of a dialogue with Oldham. He was disappointed by the "flip-flop" of Ms Ho and others, hoping to be stopped by legal action. 11 o'clock that evening, Oldham said in a statement that Jia held a meeting in Macau on January 27, including He Suchen, Fang Pansy and Mrs. Four Leong, representing Fang. In principle, we reached a consensus, according to Ho Ho will, Lanceford rights to the average distribution of four families.　　Ms Ho said she would like to divide her interests evenly, with the advice of her mother and siblings.　　Just one hour after Oldham issued the announcement, the incident reappeared: Fang and three rooms issued several documents to the media through the press spokesman, including Mr Ho's signing on January 27, the filing of a notice of termination of action on January 29, and the statement signed by Mr. Ho on January 28. He said in a statement that the daughter from no robbery and fraud, "Super Joan and Phoenix has been to him in full detail, in-depth explanation of the reorganization of the Lanceford process, and obtain his approval and signature." The whole incident has never been "hijacked" or "robbed", "fraudulent" or "contrary to good faith"; "This kind of wording is not my intention, the user is grandstanding, and other intentions ..." My children have been working with me for nearly 20 years ... From past to present, I have no doubt or wavering about their integrity, loyalty and ability.　　"King of Gamblers" also said that in the past has not been in-depth understanding and communication, the adoption of unnecessary legal acts, but now all have been withdrawn.　　In addition, there was a statement from Pansy, denying that the January 27 party was a family meeting, denying her agreement to "share the shares". January 31, Oldham at the first press conference to open three sections of the video interview with Ho Ho, reiterated that he still represents Mr Ho, will continue to carry out legal proceedings. Late that day,In a statement, Ms. Pansy said she was surprised by the release of the video footage, "because it was inconsistent with my father's instructions to us in the presence of doctors and lawyers." After one weeks of Lunar New Year holiday, there is still no consensus on Mr Ho's division of property.　　Oldham said further legal action was likely to be taken without an acceptable proposal. A wake-up call "gambling king" family grievances outside the public is not the first time.　　In 2007, sister "10 Girl" ho, one year younger than Ho, sued Mr Ho for 40 years in a "family scandal", forcing him to give up his stake and defraud billions of dollars of assets.　　Ripe brother and sister of the quarrel, and Macao government in recent years urged the gambling market liberalisation, foreign gambling group offensive, so that "gambling king" to prepare a sense of internal and external. A gaming analyst told The Economist that Mr Ho's succession plan was in fact started as soon as SJM was listed, and that the listing itself was a tool for Ho Ho's inheritance. SJM's cash flow has been plentiful since its IPO in July 2008.　　As of June 30, 2010, SJM Holdings had a cash and cash equivalent of HK $11.7 billion, a short-term loan of HK $2.48 billion, a long-term debt of HK $3.59 billion and a net cash of HK $5.659 billion. "SJM has no big projects to do since it went public, so the IPO is not due to a thirst for financing," he said. However, the advantage of listing is the ability to separate management from ownership. "The analyst pointed out that Ho Ho is bound to be expected to the situation today, only then the Australian Bo Holdings listed on the decision," but he never guessed that he would have a stroke. "In July 2009, when he was 87 years old, he crashed his head in his home with a stroke and was admitted to a hospital for a craniotomy and then returned home to recuperate." The disease has four house female turns to visit, but splits the family property matter also from now on the intense acceleration brewing, finally triggered January 2010 this game of equity scramble.　　As for the shares of Lanceford Co eventually is divided into four rooms, or Fang, three rooms possessed, in the short term is still inconclusive. A UBS analysis said that in the short term, changes in the company's shares would not affect the operations of listed companies. However, in the long run, it remains to be seen whether the strategic development and decision-making of the listed companies will vary depending on the major shareholder of Australia Entertainment.　　To be sure, the era of the gambling kingdom, where Mr Ho has been in power for the past few decades, will no longer be. In the eyes of the outside world, Macau's family struggle for production, no doubt for the water adjacent to the rich Hong Kong sounded a wake-up call. Whether Li Ka-shing of the Changjiang industry, Shau of Henderson, or the Guo Brothers of Sun Hung Kai Real Estate, these billionaires have entered their twilight years. How will the huge fortunes of their name be inherited and divided?　　This is an issue that cannot be evaded by a family of "mainstay" of Hong Kong's economy. Our intern reporter Lin Shi also contributed to this article