Although most of the casinos in Macau have resumed operations after coronavirus-induced shutdown, casino tables are still empty. Including volumes from its 20% ownership interest in Rosneft. In the event of termination, the ownership of the concessionaire's casinos will revert to the Macau Government, together with their equipment and all rights and assets as determined by the concession contract. No compensation will be due to the concessionaire in the case of termination for breach of contract. Tough Times for Macau Casino Owners As They Lose Billions. Posted on: January 12, 2015, 02:02h. Last updated on: January 12, 2015, 03:01h. In his later years, he had been involved in litigation with his sister, Winnie Ho, concerning the ownership of the Macau casino. Having suffered a stroke in July 2009, followed by a long period of recovery, Ho began steps in late 2010 to devolve his grip on his financial empire to his various wives and children.

Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia’s richest men, died peacefully at the age of 98, his family confirmed on Tuesday.

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The flamboyant tycoon, who loved to dance and advised his nearest and dearest to shun gambling, headed one of the world’s most lucrative gaming businesses through his flagship firm, SJM Holdings Ltd, valued at about $6 billion.

Ho oversaw the transformation of once-sleepy Macau into the world’s biggest casino centre, outpacing the Las Vegas strip, and held a monopoly until 2002 when the enclave licenced five other operators to run casinos.

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“In Hong Kong, Dr Ho had been someone who carried a lot of weight, was highly respected and cherished Hong Kong ... (We) hope to follow our father’s footsteps and carry on the responsibility of giving back to the society,” his daughter Pansy told media.

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Shares of companies in the family’s empire surged on expectations of potential ownership changes involving Ho’s family members.

SJM rose as much as 8.5 per cent, passenger transport firm Shun Tak Holdings Ltd jumped 17.6 per cent and casino operator Melco International Development Ltd climbed 4.9 per cent, outpacing a 2 per cent gain for the benchmark index. “The market is expecting ... a scramble for inheritance.” Reuters