Stanley Ho – Leaving The Family To Fight Over His Fortune
Stanley Ho Family Bicker Over Lack Of A Will
Everybody loves a story about the super-rich airing their dirty laundry in public. One such family who is famous for always squabbling is that of Stanley Ho. Unfortunately, he recently died and failed to leave a will. In fact, even worse, he didn’t even stipulate on a third-party administrator. According to the latest news reports, the courts in Hong Kong are now looking for an administrator who will try and value the worth of Stanley Ho’s assets. As well as deciding how they should be split up.
It’s worth remembering that Stanley Ho had a complete gambling monopoly in Macau for 40 years. Just imagine how much money that must of made. In 2002 that all came to an end when the former Portuguese colony finally freed and opened up its casino marketplace to new jackpot games and foreign companies. Macau is certainly the end of the world for most gamblers. You might be etter off playing online whilst seated on your sofa at home. Check out the online casino, King Billy Casino. Not only do they have every casino game under the sun, but also a huge number of live dealer games. You’ll feel as if you were actually in a real casino as you can chat and play with a real person whose your dealer.
Stanley Ho: A Bumpy Succession Process
With all that cash flowing into its coffers, it’s no surprise that Stanley Ho expanded into other businesses. The main one is his shipping empire. This along with his casino ownership made him one of the richest men in Asia at the time. You should note that his holding company, SJM, still operates around 20 casinos via its casino company, STDM. These include one of the most famous casinos in Macau. One which dominates the Macau Skyline, the Gran Lisboa.
Stanley Ho finally took a trip to the great casino in the sky at the ripe old age of 98. It’s strange that such an organised and wealthy individual should spend no time during all those years on ensuring a smooth transition of power after his death. After all, he had 17 children from four different wives or “consorts.” With a complicated personal life, his probate was never going to be an easy task. Worst of all was the discovery that Stanley Ho never made a will.
According to recent court documents, his fifth child, Pansy Ho is claiming that the estate of Stanley Ho is worth at least HK$1.72 billion. For some reason, this is a very different sum from that put forward by Angela Ho. She’s his eldest child, and claims a fortune of HK$11 billion. Back in 2018 when Ho finally retired, his estate was valued at HK$50 billion. We’re sure the huge difference between these numbers is part and parcel of their jackpot winning strategies, as their lawyers will be playing the long game for greater fees.
Stanley Ho: Layers Of Lawyers
The international accountancy firm, KPMG, has had their name put forward as the administrator by Pansy Ho. But they claim it has been difficult as the family were not necessarily on board. Nevertheless, Pansy Ho claims that she has tried very hard to “engage” with her half-sister, Angela. So it was to absolutely no one’s surprise to discover that Angela had already initiated proceedings in the High Court to nominate a different administrator. A company by the name of Alvarez and Marsa. Apparently, she has her own ideas about how to win the jackpot. Just to add some much-needed gasoline to an already burning fire, the lawyers for Angela claim that their client has been frozen out of proceedings.
Sisters Take Control From Ho’s Wife
For many years there were rumours that Pansy was Stanley Ho’s favourite child for succession. In fact, in 2018 when he retired, she replaced him as the chairperson of Shun Tak Holdings. This is a hospitality and real estate development business. It also happens to operate the ferries between Hong Kong and Macau. She also happens to be the chairperson of MGM Macau, one of the best casinos to win the jackpot playing their huge number of table games. At the same time, her full sister, Daisy Ho, became chairperson of SJM. Just one year before Stanley Ho died these two sisters managed to take back control of the casino businesses away from Ho’s first wife, Angela Leong. If you want a chance of being super rich, then head over to King Billy Casino online. They have some very tasty jackpots waiting to be won.
