Following on from recent allegations against Crown Resorts, an Australian politician has questioned why Chow Tai Fook, a company linked with Macau gaming mogul Stanley Ho, has been allowed to invest in the Star Entertainment Group, The Age reports.
Chow Tai Fook is a joint venture partner with Star on its $3 billion Queen’s Wharf Casino complex, as well as the $500 million Ritz Carlton development in Sydney.
The company is controlled by Henry Cheung, whose family holds a 9.6 percent stake in SJM, founded by Stanley Ho.
The company also has a five percent stake in Star, and has previously indicated it would look to substantially increase its stake in the future.
Justin Field, the independent MP that helped to launch the public release of ILGA’s conditions on Crown, said there was a legitimate question to be asked about why Mr. Ho and related business entities would be banned from having links with Crown but not with Star.
“There is scope within the Bergin Inquiry’s terms to consider these Star business relationships and the ‘extant and emerging risks for gaming’ generally and to recommend changes needed to address these risks. I hope they will be considered,” he said.
However, when asked whether the ties between Chow Tai Fook and Stanley Ho may attract the attention of regulators in NSW, a Star Entertainment Group spokesman said that: “Chow Tai Fook have completed extensive probity reviews and received regulator approval in Queensland.”
A spokesman for ILGA said that it had not received any application as of yet for Chow Tai Fook to increase its holding in Star to above 10 percent.
Doing so would trigger “stringent probity, legal and financial checks,” he said.