Local casino operator Lawrence Ho and his ex-business partner, Australian James Packer, have been subpoenaed by an Australian court to be witnesses in a wide-ranking “casino inquisition,” according to a report by the Herald Sun of Australia.
The media outlet described the breadth of the case as “extraordinary”. It will include a robust investigation into allegations of money laundering and criminal activity in Australia via VIP junket operators.
The investigation into Lawrence Ho was prompted by his decision to acquire 19.9% of James Packer’s Crown Resorts.
Ho and Packer were once business partners. About a decade ago, the duo cooperated to obtain a sub-concession from Wynn Macau, then known as Wynn Resorts S.A., to operate a gambling business in Macau.
The two extended Packer’s brand in Australia, Crown, to Macau, and opened Crown Macau, currently called the Altira Macau. Ho once said the rebranding was facilitated so that intra-corporate competition would not happen.
Later, when the corporation opened the City of Dreams property, the Crown brand was relocated to the resort, with the opening of Crown Towers.
Eventually, due to corporate restructuring, Packer sold all his stakes in the company to Ho. The company was then rebranded as Melco Resorts and Entertainment.
The former Macau duo, who are reportedly still close enough to describe each other as “brothers”, may have to reappear in court for at least some of the five hearings. It is understood Ho and Packer are set to appear in the second and fourth hearings, in which the share transaction between them will be discussed. International bodies have levelled allegations of triad crimes against Stanley Ho, Lawrence Ho’s father, who once controlled a casino monopoly in Macau. Such allegations have caused bumps in the path to the closure of the deal between Lawrence Ho and Packer. AL
No Comments