Macau's chief denies stake in casino

EDMUND Ho, the chief executive of the Chinese gambling enclave of Macau, has denied reports alleging he has financial interests in the businesses of the region's most powerful casino mogul.

The South China Morning Post reported on Monday that the chief executive has held a stake in the Macau casino empire controlled by tycoon Stanley Ho through a Hong Kong company for the past 15 years. The two Hos are not related.

Documents filed to the Hong Kong registry of companies said Edmund Ho and his two brothers inherited from their late father a 3.3-percent stake worth about HK$100 million (US$12.8 million) in the Hong Kong company Many Town Company Ltd.

Many Town in turn holds a nine percent stake in Sociedade de Turismo e Diversoes de Macau, or STDM, the casino operator owned by Stanley Ho, the newspaper said.

Edmund Ho has denied allegations that he has any current financial interests in Stanley Ho's casinos, a spokeswoman for the Macau government said yesterday. The political leader "has no business relations or dealings with" Stanley Ho, the spokeswoman, Elena Au, said.

Stanley Ho's lawyers at law firm Herbert Smith also denied that Edmund Ho had current stakes in STDM casino empire.