Stanley Ho and his family have always fiercely denied the allegations of triad affiliation that have dogged them for years.<\/p>\n
But in 2010 the New Jersey Division of Gaming Enforcement (DGE) concluded that Ho was an associate of the Sun Yee On triads following an investigation into the suitability of MGM Resorts to operate the Borgata in Atlantic City.<\/p>\n
Specifically, the regulators were examining the joint venture MGM had launched with Pansy Ho, the MGM Macau, which opened in 2007.<\/p>\n
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According to the DGE, the VIP rooms Stanley Ho had introduced to his casinos in the 1980s \u201cprovided organized crime the entry into the Macau gaming market that it had previously lacked.\u201d<\/p>\n<\/div>\n
After the announcement of the Crown deal in late May, Lawrence Ho said he welcomed the necessary regulatory scrutiny that would follow and had nothing to hide. He emphasized that Australian regulators had looked into him before — when he entered into the now defunct Melco Crown joint venture — and had found no red flags.<\/p>\n
\u201cBoth Crown and I have always stressed that my business dealings are independent of my father\u2019s interests,\u201d he told The Australian Financial Review.<\/em> \u201cWe have already been in partnership with Crown for 12 years and have passed probity screens from regulators without an issue.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"An investigation is underway in New South Wales, Australia, after evidence presented to the Federal Parliament Thursday showed that Melco Resorts CEO Lawrence Ho was, until very recently, directly involved with a company that is banned from doing business with Crown Resorts. According to corporate documents filed in Hong Kong, when Ho agreed to purchase […]<\/p>\n","protected":false},"author":36,"featured_media":111617,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,18],"tags":[],"acf":[],"yoast_head":"\n
Melco-Crown Buyout Jeopardized Over Link to Blacklisted Company<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n