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Ho to Buy into Emperor Entertainment

MACAU – As reported by the China Standard: "Casino tycoon Stanley Ho will pay HK$92 million (US$11.8 million) to buy a 3.44 percent stake in Emperor Entertainment Hotel, a hotel-casino developer controlled by tycoon Albert Yeung, expanding his already huge presence in Macau.

"Emperor Entertainment will issue 31.95 million new shares at HK$2.88 each to Honour State International, a wholly-owned subsidiary of Ho's Sociedade de Jogos de Macau (SJM).

"…Ho's SJM, which runs 14 hotels in Macau, has already teamed up with Emperor Entertainment to build a HK$350 million, five-star hotel-casino in Praia Grande Bay. Ho said he would not inject his casino assets into other listed companies in Hong Kong unless it was beneficial to Macau.

"…Unlike Yeung, who is eyeing the Russian market, Ho said he has little interest in expanding his casino empire outside Macau…"

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