Australian billionaire James Packer said Melco Crown Entertainment Ltd. is looking for partners to build casinos in Japan should the country legalize gambling resorts and would consider listing the venture.
Teresita Sy-Coson sits down with her five siblings for lunch every Tuesday to plot the direction of the Philippines’ largest family-run conglomerate. The sessions start at 11 and invariably spill over the allotted two hours, says Sy-Coson, 63, chairman of BDO Unibank Inc. and the eldest child of Henry Sy, the country’s richest man.
Macau’s gambling riches sparked bloody gunfights between triad gangsters two decades ago. Today, there’s a new conflict brewing, only this time it’s being waged with private jets, limousines and million-dollar loans.
Billionaire Stanley Ho said his legal dispute with family members over ownership of their Macau gambling business has been resolved, and he has withdrawn his lawsuit, driving up SJM Holdings Ltd. ’s shares.
The three-day public wrangle over Stanley Ho ’s casino empire took yet another twist as a lawsuit accused family members of illegally taking control of his assets, a day after the Macau billionaire said the dispute was settled.
SJM Holdings Ltd., Asia’s biggest casino operator, will spend HK$30 billion ($3.9 billion) to build its first resort in Macau’s Cotai area, HK$5 billion more than planned because of higher construction and labor costs.
Lawrence Ho, son of Macau gambling tycoon Stanley Ho, plans to invest more than $5 billion in Japan if Melco Crown Entertainment Ltd. receives permission to build a casino there as he sees constraints on development at home.