Casino News

Macao leader under pressure in casino row

2007-08-14 14:48:03

The man in charge of Macao, the Chinese gambling enclave, has denied claims he has investments in a Hong Kong casino firm called Many Town Company.

A report in the South Morning China Post claims that Edmund Ho had inherited part of his father's stake in the gambling empire and had failed to sell the stake before taking office in 1999.

But a government spokesperson said that the Macao leader "has no business relations or dealings" with the company in question and had offloaded the shares to his brother in 1995.

However, data from Hong Kong's company registration files obtained by the newspaper indicates that the transfer did not take place.

"If that's the case, that would be very serious," remarked Jose Coutinho, a deputy in Macau's legislative assembly, reports the Globe and Mail.

"We are urging the government to clarify this or Macao will become a laughing stock."

According to official figures, Macao's gaming sector had revenues of more than $6 billion last year, stealing Las Vegas' crown as the top gambling hotspot.