The Ho family of Macau has retained its casino concessions in Portugal, despite a rival bid that would have paid the state €20 million per year more than what the Ho family was offering.
The Ho family are the surviving relatives of Stanley Ho, the creator of the Macau gaming empire. Through their company Estoril Sol SGPS SA they currently control the country’s two largest casinos: Casino de Lisboa in Lisbon and Casino do Estoril in Cascais. The 15-year concessions expire in December.
The Ho family and another bidder, the online casino operator Bidluck, both submitted bids. However Estoril Sol SGPS SA, as IAG reported, recently informed the Portuguese Securities Market Commission that Bidluck’s bid was rejected.
Reportedly, two Bidluck directors face trial in Portugal for “illicit exploitation of gambling.”
