wives, 17 kids and the fight for a $8.4b casino empire - 29th January 2019
Jeanny Yu & Blake Schmidt
new alliance emerged among some of billionaire Stanley Ho's 17 children in the
decade-long family battle for his Macau casino empire, and eldest daughter Pansy
looks the likely victor.
announced that she had joined up with some siblings and the Henry Fok Foundation
and would hold a combined 53 per cent in Sociedade de Turismo e Diversoes de Macau,
which controls casino operator SJM Holdings Ltd.
alliance gives her the upper hand over Angela Leong, the fourth wife of 97-year-old
Ho, and her main rival in the battle for control of Macau's original gaming company.
2011, Stanley Ho sued family members in a high-profile dynastic fight in which
he sought to recover billions in assets after a share restructuring he said was
done without his consent.
dispute was settled after two months but gave an insight into the factious nature
of Hos family and the lifestyle of one of Asias wealthiest families.
this month, Stanley Ho's nephew Michael Hotung, also known as Mak Shun Ming, sued
the gambling tycoon, saying he was not paid $HK2 billion ($360 million) in shares
dividends that he was entitled to.
are four people to watch as the family saga over control of the nearly $US6 billion
($8.4 billion) business continues.
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
Ltd., 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.
helped form MGM China in a joint venture with billionaire Kirk Kerkorian's MGM
Resorts. The company raised $US1.5 billion in an initial public offering on the
Hong Kong Stock Exchange in 2011
Leong is the co-chairman of SJM, one of six companies authorized 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.
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.
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.
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 doesn't like gambling, Lawrence eventually joined the family business.
2006, he became chairman and chief executive officer of Melco International Development
Ltd., a Hong Kong-listed entertainment group, which includes Nasdaq-listed Melco
Resorts & Entertainment Ltd. He ended a partnership with Australian billionaire
James Packer after working on four casinos together.
a bachelor's degree in marketing from the University of Southern California and
a master's of business administration degree in finance at the University of Toronto,
Daisy became chairman and executive director of SJM Holdings. She is also CFO
of Shun Tak Holdings, chairman of the board of the Hong Kong Ballet and vice-chairman
of charity provider Po Leung Kuk.
has been a committee member of the Chinese People's Political Consultative Conference
of Tianjin since 2008.