Ho donation sparks Australia casino rumours

2007-02-22 12:00:03

Rumours have begun to spread that a major new casino could soon be developed in Sydney, Australia, following the arrival of Stanley Ho on the political scene.

Mr Ho has been revealed to be one of the Australian Labor party's biggest donors, having given over $100,000 of his own money to the party for an election in New South Wales next month, half of which is directed towards Ho himself having lunch with leading New South Wales political figures.

Mr Ho did once have a 40-year monopoly on casinos in Macau before the market was de-regulated, and he still retains a strong presence in the region.

Currently Sydney's casinos are limited to just the Star City resort, thanks to a 12 year exclusive contract it secured in 1985. However, this contract runs out in August and could pave the way for a new venue, the Malaysia Sun reported.

According to the Forbes magazine rich list, Mr Ho's approximate $6.5 billion net worth makes him the 84th richest man in the world.


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