HONG KONG — Aging Macau casino tycoon Stanley Ho has dropped a lawsuit against members of his family, including two of his daughters, to end a feud over control of his Asian gaming empire.
In a joint statement late Thursday, Ho and his family said the "Ho family
The 89-year-old said he had filed a notice of discontinuance on February 21 to dismiss the case he had filed on February 16 against his daughters Daisy and Pansy and a firm controlled by his third "wife", Ina Chan.
"A deed of settlement was executed on 8 March 2011 between all branches of the Ho family," the signed letter said.
He said all members of the Ho family would work together to develop the gambling business he founded.
The saga saw Ho battling two branches of his family over SJM Holdings, the centrepiece of a fortune worth at least $3.1 billion.
The feud captivated the international media, with the focus falling on the colourful tycoon's complicated family tree, which sprawls to 17 children born to four women whom he refers to as his wives.
Ho, credited as the father of Macau's casino scene, secured a monopoly on the city's casinos from the 1960s until 2002, when licences were granted to rival firms including some major Las Vegas players.
Macau, a former Portuguese colony and the only city in China to allow casino gambling, is the world's biggest gaming hub, with $23.5 billion wagered at its tables last year.
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