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Ho Re-enters Philippine Casino Industry

1 Apr 2004

PHILIPPINES – As reported by the ABS-CBN News: "Stanley Ho has indeed reentered the Philippine gambling scene with the direct involvement of his long-time partner Cheng Yu-Tung, through his Chow Tai Fook Group of Companies, in a newly opened casino at the Sheraton Marina hotel in Malate, Manila.

"But Ho's operation is not only limited to Sheraton Marina hotel. Reliable sources at the Philippine Amusement and Gaming Corp. swear that Ho's dummies are the ones behind the casino operation at Fort Ilocandia in Laoag City, Ilocos Norte.

"The Pagcor sources said Ho's dummies were the ones who bought Fort Ilocandia Resort and Casino from its previous owner, William Gatchalian, in February 2002.

"Records showed that Fort Ilocandia is now being run by Jimea International Casino, a consortium of Taiwanese investors operating floating casinos in Hong Kong.

"Ho operates floating casinos in Hong Kong.

"..Pagcor employees said the clearest proof of Ho's direct participation in Fort Ilocandia's casino operation is the fact that his flagship airline, Air Macau, has been granted rights to operate by the Arroyo administration in the early months of her presidency at the Laoag City International Airport.

"Air Macau is responsible for bringing in hundreds of high-roller casino aficionados from Hong Kong, Macau and Taiwan to Fort Ilocandia every week, especially on Fridays, for nonstop gambling…"

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