{"id":98919,"date":"2019-02-21T08:34:37","date_gmt":"2019-02-21T16:34:37","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=98919"},"modified":"2019-02-21T09:09:07","modified_gmt":"2019-02-21T17:09:07","slug":"daisy-ho-new-shareholder-alliance-will-bolster-sjm-holdings-pursuit-of-new-macau-license","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/daisy-ho-new-shareholder-alliance-will-bolster-sjm-holdings-pursuit-of-new-macau-license\/","title":{"rendered":"Daisy Ho: Shareholder Alliance Will Bolster SJM Holdings’ Pursuit of New Macau License"},"content":{"rendered":"

Daisy Ho, chairman of Macau casino giant SJM Holdings and daughter of casino tycoon Stanley Ho<\/a>, told Bloomberg<\/em> this week a new alliance<\/a> among shareholders will strengthen the business as it prepares to bid for a new gaming license in the world\u2019s biggest gambling hub.<\/p>\n

\"Daisy
Daisy Ho (left), with her sister Pansy, whose alliance with the Fok Foundation has tipped the power scale back to her branch of Stanley Ho\u2019s often-squabbling family. (Image: HK Ballet)<\/figcaption><\/figure>\n

It was Daisy\u2019s first interview since Pansy Ho announced last month the two sisters had allied with the Fok Foundation to consolidate control over STDM, the family\u2019s main holding company, which controls SJM.<\/p>\n

Together, the alliance will hold 53 percent of the company, according to a filing to the Hong Kong Stock Exchange. STDM holds around 54 percent of SJM.<\/p>\n

Stanley Ho\u2019s family have fought publicly over control of his vast business empire, which stretches beyond casinos into shipping and property. The 97-year-old patriarch has fathered 17 children from four women, each of whom he concurrently called his wives.<\/p>\n

In 2011, as Ho was becoming increasingly frail, he aimed to resolve the legal squabbles among family members by dividing almost his entire share in SJM among them.<\/p>\n

Power Struggle<\/strong><\/h2>\n

But 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>\n

Ho 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":"\nDaisy Ho: New Shareholder Alliance Will Bolster SJM Holdings<\/title>\n<meta name=\"description\" content=\"Daisy Ho speaks out about that new alliance at the top of Macau casino and business empire STDM Holdings and SJM Holdings, which tips the balance of power in favor of Disy and her sister Pansy Ho.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/daisy-ho-new-shareholder-alliance-will-bolster-sjm-holdings-pursuit-of-new-macau-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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