Temporary Solution for Control Over Stanley Ho’s Empire

I previously blogged about the battle surrounding the control of Stanley Ho’s lucrative gambling enterprise. Angela Leong, Mr. Ho’s fourth wife, recently emerged from the fight on top and now controls a $1.2 billion interest in Mr. Ho’s casino holdings. The family agreement reached allows Ms. Leong to remain the executive director of SJM Holdings Ltd. for six years.

The Ho empire’s agreement brings at least temporary relief for Mr. Ho, who is now 89 and confined to a wheelchair after having brain surgery. Ms. Leong is expected to bring stability to the company by keeping the current management team.

See Shai Oster and Kate O’Keeffe, A Winner Emerges in Macau, Apr. 16, 2011.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this to my attention.