Power Struggle<\/strong><\/h2>\nBut until the formation of the alliance with the Fok Foundation, his fourth \u201cwife,\u201d Angela Leong held the controlling stake in STDM. Daisy and Pansy are children of Ho\u2019s second wife, Lucina Laam, and full-sisters of Melco chairman and CEO Lawrence Ho.<\/p>\n
The Fok Foundation was created by Ho\u2019s business partner Henry Fok to hold his stake in the company after his death. It’s controlled by his son, Timothy Fok, who is co-chairman of SJM.<\/p>\n
The balance of power may have tipped in favor of the Ho sisters, but Daisy was preaching unity when she spoke to Bloomberg<\/em> this week.<\/p>\n\u201cThe shareholders in the alliance all possess irreplaceable goodwill, accumulated through prolonged understanding and exposure in various industry sectors in Macau and mainland China,\u201d she said.\u00a0\u201cAlthough the alliance is the ultimate controlling shareholder of SJM, no one should make isolated decisions. My job is to conduct robust board discussions and deliberations.\u201d<\/p><\/blockquote>\n
\u201cTogether with Timothy Fok \u2026 we can leverage and apply these resources to further develop SJM\u2019s competitiveness to pursue the new gaming concession,\u201d she added.<\/p>\n
Stakes High in 2020<\/strong><\/h2>\nHo held the monopoly on gambling in Macau for decades, until 2002 when the market was opened up to international operators, creating six major licenses, or \u201cconcessions,\u201d from which all other gambling is sub-licensed.<\/p>\n
The concessions last for 20 years and SJM\u2019s is up for renewal in 2020, with others to follow in 2022. Some analysts agree the alliance will provide stronger corporate governance that will steer a steadier ship towards a new license.<\/p>\n
\u201cThe reintegration of the alliance\u2019s resources with SJM will reinvigorate the gaming operator with the gravity it needs to move the needle on non-gaming investments, and will undoubtedly assist it in gaining a new concession,\u201d Ben Lee, a Macau-based managing partner at IGamiX, told Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"
Daisy Ho, chairman of Macau casino giant SJM Holdings and daughter of casino tycoon Stanley Ho, told Bloomberg this week a new alliance among shareholders will strengthen the business as it prepares to bid for a new gaming license in the world\u2019s biggest gambling hub. It was Daisy\u2019s first interview since Pansy Ho announced last […]<\/p>\n","protected":false},"author":36,"featured_media":98922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\n
Daisy Ho: New Shareholder Alliance Will Bolster SJM Holdings<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n