Ho partners in Angola with president's daughter
Macau casino tycoon Stanley Ho is preparing to enter the casino market in Angola in partnership with a powerful local businesswoman who is also the daughter of the president of the country.
Isabel dos Santos, daughter of President Jose Eduardo dos Santos, who has ruled the impoverished African nation for 30 years, has joined up with the Chinese octogenarian in negotiating available and planned casinos, according to the Africa Monitor.
Ho has wanted to gain entry to the Angolan market for some time, originally through his Portuguese gaming subsidiary, Estoril Sol, which runs one of Europe’s largest gambling halls, Casino do Estoril, near Lisbon.
The Ho-Santos partnership reportedly has won casino concessions at the new Hotel Intercontinental under construction in the capital of Luanda and at a second site in the capital known as the Gika Complex.
Ho is a powerful player in Angola. A company he is involved in, Geocapital, has a business partnership with Angola’s state-owned oil company Sonangol, and Ho has a stake in Banco Privado Atlântico. Geocapital also is present in Mozambique’s financial sector, in Guinea Bissau and is reported to be preparing operations in East Timor and Cape Verde.
Dos Santos has established herself as one of the most influential figures in the Angolan and Portuguese business worlds. Among her holdings are investments in Portuguese bank BPI, in Banco Espírito Santo Angola, in Portuguese bank BIC, in Angolan mobile operator Unitel and in Portugal Telecom.