Casino magnate Stanley Ho Hung-sun's China Sci-Tech has not ruled out the launch of an on-line gambling venture if such operations are legalised in Hong Kong. Executive director Chang Wang denied the company planned to use China Online, the firm in which it is to acquire a 32.82 per cent stake, to develop an on-line casino. He said according to legal advice this was illegal in Hong Kong. But Mr Wang did not rule out the possibility 'if such operations became legal in Hong Kong in the future'. There is speculation Mr Ho would use China Online for an on-line gambling venture, although the stock exchange said it would not be approved as gambling was illegal in the SAR. Meanwhile, Mr Ho's grip on China Sci-Tech could tighten if second-largest shareholder, New Excellence Holdings, gives up its allotment in the company's rights issue approved by shareholders yesterday.
