The family of the late gambling tycoon Stanley Ho risks losing the concession of two of Portugal’s biggest casinos after a rival bidder for the license to operate both venues made a higher offer.
The Casino de Lisboa, in Portugal’s capital, and Casino do Estoril, located in the seaside town of Cascais near Lisbon, are operated by Estoril Sol SGPS SA, whose main shareholder is the Ho family. Pansy Ho, the eldest daughter of Stanley Ho’s second wife, is the chairwoman of Estoril Sol.
The license to operate both casinos expires at the end of December and the Portuguese government opened an international tender in August for a new 15-year deal.
