There’s currently a fight going on between 4 wives and 17 children after Stanley Ho passed away. Leaving his empire to be up for grabs, we take a look at who has the credentials to get the throne. It’s all fun and games until a billionaire company is there for the taking. Let’s check it out.
In Hong Kong, there’s a huge empire of a company up for grabs. None other than the Sociedade de Turismo e Diversoes de Macau. The mega gambling company is now there for the taking but there’s a number of candidates who believe they are the rightful owner. Leading the candidates is the favourite, Pansy Ho, Stanley’s eldest daughter.
Stanley Ho Leaves Huge Question Mark
Let’s take a look at Pansy’s credentials:
Born in 1962 to Stanley and his second wife, Lucina Laam King-ying, Pansy studied marketing and business at Santa Clara University in California before pursuing a brief TV acting career in Hong Kong. She eventually ended up running Shun Tak Holdings, a publicly traded conglomerate that operates ferry and helicopter services linking Hong Kong and Macau. She was appointed managing director of Shun Tak during Macau’s handover from Portugal to China in 1999, and became chairman after her father stepped down in 2017.
Pansy helped form MGM China in a joint venture with billionaire Kirk Kerkorian’s MGM Resorts. The company raised US$1.5 billion in an initial public offering on the Hong Kong Stock Exchange in 2011.
The next competitor is Angela Leong, Stanley’s wife:
Billionaire Leong is the co-chairman of SJM, one of six companies authorised to operate casinos in Macau, and is a STDM director. SJM has 20 casinos, about 1,700 gaming tables and more than 2,400 slot machines.
Leong was born into a wealthy military family in Guangzhou in 1961. She met the tycoon in 1986, and backed by him, built a sprawling property business. She also became a member of the Legislative Council of Macau.
Her real estate holdings include the Entertainment Building, the Bank of China Insurance Tower in Hong Kong, L’Avenue Shanghai in China and L’arc Macau in Macau.
Last but not least, there’s Lawrence Ho:
Lawrence, Stanley’s son with Lucina, worked at Citibank and Jardine Fleming after returning to Hong Kong from studies at the University of Toronto. Despite being quoted as saying he does not like gambling, Lawrence eventually joined the family business. In 2006, he became chairman and chief executive officer of Melco International Development, a Hong Kong-listed entertainment group, which includes Nasdaq-listed Melco Resorts & Entertainment. He ended a partnership with Australian billionaire James Packer after working on four casinos together.
In all fairness, it looks as though the successor to Stanley Ho will be his first daughter, Pansy. It seems as though she’s been leading her whole life up to this point and we certainly would back her to do a good job.
We’ll keep a close eye on this story and you’ll surely hear an update on the situation at the latest online gambling news in the coming future.