Casino Family Bidding War
05, February 2007
The former Portuguese colony of Macau is known for its casinos and gambling families, and recent reports are that one family is at odds with who should control 16 of Macau's 23 casinos. Stanley Ho, who has the controlling stake in Sociedade de Turismo e Diversoes de Macau (STDM), got an offer from his younger sister, Winnie Ho, to buy out his stake. Winnie Ho has filed more than 30 lawsuits against her brother for money she claims his company owes her in the form of dividends over the past five years for her 8 per cent stake. Her claim of monies owed is nearly five hundred million dollars.
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