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Article: Macau signs contract for new casino concession with gambling tycoon Stanley Ho

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AP Worldstream
Article date:
March 28, 2002
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Dateline: MACAU The government of Macau signed a contract with casino tycoon Stanley Ho on Thursday for one of three new gambling concessions in this former Portuguese colony on China's southern coast.

"We are very pleased to have signed the new gambling license with the Macau SAR government, which has turned a new page from monopoly to open competition in the gaming industry," Ho said.

Macau, a special administrative region, or SAR, of China, recently awarded three casino licenses, ending Ho's 40-year gambling monopoly and bringing in competition from Las Vegas operators.

Ho said his Macau Gaming Co. would continue to operate its ...

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