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Ho Buys Stake in Airline

MACAU – As reported by the Hong Kong Standard: "The family of casino tycoon Stanley Ho plans to buy an 80 percent stake in Golden Dragon Airlines, taking control of the 12-year-old carrier that plans to start flights from Macau to the mainland by next year, said an industry source.

"Ho will hold the stake through his helicopter firm, East Asia Airlines, and manage the carrier through his budget airline start-up, Hong Kong Express, said the source.

"Lam Kuo, founder of Golden Dragon, will retain a 20 percent stake.

"…Macau has seen tourism boom since liberalizing the gambling industry in 2002. The city's economy grew 8.5 percent in the first quarter, thanks to a 19 percent increase in visitor arrivals…"

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