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Wednesday, January 26, 2011

Macau casino tycoon Ho moves to end dispute with family

Macau casino magnate Stanley Ho moved to end a dispute with his family on Wednesday, saying he willingly handed over assets in his $10 billion gaming company and would not press legal charges. It was his first public comment on the dispute over the asset transfer, which in effect whittles down the 89-year-old's assets to nothing and triggered speculation over succession plans at SJM Holdings Ltd . SJM shares dived 8.8 percent on Wednesday on fears a family feud between the SJM chairman and some of his 17 known children would affect Macau's largest casino operator. They ended down 4.9 percent.

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