New Jersey regulators have told MGM they need to abandon a joint venture with Macau and Pansy Ho, seen right, accusing the later of being part of an organized crime family.
Pansy is the daughter of Macau casino czar, Stanley Ho, seen below.
While only a recommendation, this could become an ultimatum, with MGM either having to walk away from its investment in Atlantic City’s Borgata Hotel or get out of Macau.
The state Division of Gaming Enforcement says Pansy Ho is ‘unsuitable’ due to allegations surrounding her father, Stanley Ho. Pansy Ho has said she operates independently of her father.
Infamous as a polygamist, over the years Ho has publicly acknowledged that he has four wives who gave birth to 17 children. Ho handed over the reins of STDM to daughter Pansy.
The Asian Pacific Post once reported:
‘But there is a dark side to the casino magnate, one which is secretly recorded in Canadian, American, British and Australian intelligence files.
‘The intelligence data, which has been vehemently denied by Ho and his friends in high places, state the operations of the gambling king are intricately linked to Asian organized crime.’
Gambling 911reported ‘We’ve seen better-than-expected performance in the overall gaming market of Macau,’ said Credit Suisse analyst Gabriel Chan. ‘Vegas is still suffering and will take a longer time to recover, but in Macau, we are beginning to see the light at the end of the tunnel.’
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