BILLIONAIRE STANLEY HO’S CONDITION UNSTABLE, APPLE DAILY SAYS scmp.com
Macau casino billionaire Stanley Ho’s condition became unstable two days ago, according to the Apple Daily. The Chinese-language newspaper did not cite anyone but stated that Ho, 87, is in a semi comatose condition following brain surgery to remove a blood clot. On August 7, Chan Un Chan, Ho’s third wife, told reporters that her husband was recovering.
CAP ON COMMISSIONS TO JUNKETS BACKED BY FINES scmp.com
Commission caps were officially approved by the Macau government yesterday. Casinos will, from September 9th, be limited in the amount of commission they can pay VIP junket operators. Amendments to Macau’s 2002 administrative regulations on junket licensing outline fines of up to MOP500,000 and other penalties for casinos or junkets found to be disregarding the rule. The regulator will have the power to suspend or revoke junket licenses.
The secretary for economy and finance will announce the official cap through a separate announcement. Observers expect the announcement to be in line with casino operators’ recommendation that the cap be set to 1.25% of VIP revenue.