Gaming association believes in Stanley Ho despite daughter’s snub by New Jersey
His daughter may not be a suitable business partner in the eyes of New Jersey gaming regulators, but the American Gaming Association believes Stanley Ho should be honored at the Global Gaming Expo Asia next month.
Ho, the 86-year-old Hong Kong billionaire, will receive the Asia Visionary Award at the opening ceremony of the G2E Asia, scheduled for June 2-4 and the Venetian Macau.
The convention and trade show is the Macau version of the G2E that takes place in Las Vegas in November.
"As the global gaming industry continues to face one of the most challenging economic environments in recent history, the insights of top leaders and analysts will play an important role in helping industry professionals weather the storm," Frank Fahrenkopf Jr., American Gaming Association president, said in a statement.
Ho held the monopoly on Macau’s casino concessions for more than two decades until Mainland China allowed new operators to enter the market. He is still the region’s leading casino operator, with 18 large and small Macau casinos.
However, international law enforcement authorities have alleged Chinese organized crime triads influenced the operations at his casinos.
The allegations may have played a part in the New Jersey Division of Gaming Enforcement rejecting the suitability of Ho’s daughter, Pansy Ho, to share in ownership of the MGM Grand Macau after a nearly four-year investigation.
The New Jersey Casino Control Commission will make a final ruling, which could force MGM Mirage to sell either its 50 percent ownership of the Borgata in Atlantic City or its 50 percent stake in the MGM Grand Macau.