HONG KONG (Dow Jones)–Casino operator SJM Holdings Ltd said Thursday that Executive Director Angela Leong now owns a stake of around 6% in its parent company after a two-month family dispute over control of the parent was settled earlier this month.
A dispute burst into the open earlier this year when Macau casino mogul Stanley Ho accused the children of his second wife of colluding with his third wife, Ina Chan, of stealing the holding company that held the biggest stake in Sociedade de Turismo e Diversoes de Macau, which owns 55.9% of SJM. Ho calls Leong his fourth wife.
The families later reached a settlement agreement, announced March 10 by Ho’s office, bringing to a close the bitter public dispute that clouded the future of the biggest casino operator in Macau. However, the parties have declined to provide details of the settlement.
In Thursday’s filing, SJM said Ho’s stake in STDM through the holding company is 0.117%, while 25.538% is held by other members of Ho’s families, excluding that with Leong.
The 6% stake in STDM effectively raises Leong’s stake in the listed SJM to nearly 11% from 7.62%.
