• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 5 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Pansy Ho lines up stunning SJM power play as five-way alliance announced

Ben Blaschke by Ben Blaschke
Thu 24 Jan 2019 at 10:22

Ms Pansy Ho

146
SHARES
790
VIEWS
Print Friendly, PDF & Email

Pansy Ho, the Co-Chairperson and Executive Director of MGM Holdings and daughter of Macau gaming kingpin Stanley Ho, appears to be planning a bid for control of SJM Holdings following an announcement on Wednesday night that four of her companies have formed an alliance with major shareholder the Fok Foundation.

Shun Tak Holdings, of which Ho is Chairman, issued a filing with the Hong Kong Stock Exchange last night in which it revealed that an agreement had been formed between Ho-controlled companies Shun Tak, Lanceford and Interdragon as well as the Fok Foundation and Ho herself.

Their combined interests amount to 53% of shares in STDM, which holds a 54% stake in Macau concessionaire SJM. The Fok Foundation, to which STDM co-founder Henry Fok transferred his shareholding in the early 2000s, controls around 26.5% of STDM – comprising half of the new alliance’s stake.

The five pieces of the new alliance … “The Company” refers to Shun Tak Holdings

A research note published by Deutsche Bank overnight described the move as one of the most significant power plays in Macau’s recent history with one of the possible consequences being a move against current SJM Co-Chairman and Executive Director Angela Leong, Dr Stanley Ho’s fourth wife.

“Notably, one key shareholder not in the agreement is Angela Leong,” Deutsche Bank wrote.

“We see a risk that, when the current terms of board directorships expire for Leong and her associates, namely SJM’s CEO (Dr Ambrose So) and COO (Louis Ng), they may not be re-elected again. We believe the COO’s term expires in June 2019 and the other two in June 2020.”

In its filing on Wednesday, Shun Tak said that the parties have endorsed a common commitment to advancing certain fundamental objectives in relation to STDM and the STDM Group, including the extension of SJM’s gaming concession which is held by its wholly-owned subsidiary SJMSA and ensuring that STDM remains the majority shareholder in SJM.

The alliance said it would make “best efforts to exercise their respective powers and rights” in submitting a common proposal for the election of STDM board members when the time to vote on nominees comes, with the alliance pointing to 31 March 2019 as the next such occasion.

Likewise, the group will exercise its rights in relation to the nomination of directors of SJM including Chairman and Co-Chairman.

“The Parties have also agreed to submit a common proposal for the election of the Board of SJMSA,” the filing said.

Formation of this alliance could prove to be one of the biggest events in Macau gaming since liberalisation of the industry almost 20 years ago, potentially leading to a seismic shake-up in control of Macau’s oldest gaming dynasty.

SJM controls 20 of Macau’s 39 operational casinos, including its flagship Grand Lisboa, three “self-promoted” casinos in Lisboa, Oceanus at Jai Alai and Casino Taipa at Regency Art Hotel and 16 casinos operated by third parties under SJM’s gaming license.

However, its market share has slipped considerably in recent years and it is the only one of Macau’s six concessionaires yet to open an IR in the SAR’s new gaming hub of Cotai. Grand Lisboa Place, due to open in 2020, has been plagued by construction delays.

Inside Asian Gaming will provide further updates as this story develops.

 

 

 

RelatedPosts

Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

Macau government lowers 2025 GGR forecast to US$28 billion

Tue 3 Jun 2025 at 16:06
Macau GGR hits new post-pandemic high of MOP$20.8 billion in October

JP Morgan: Q2 shaping as Macau’s first “non-miss” quarter in some time after strong May GGR result

Mon 2 Jun 2025 at 13:12
Less than one month remaining to MGS Summit 2022

Macau GGR sets new post-COVID high of MOP$21.2 billion in May

Sun 1 Jun 2025 at 12:53
Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

Fri 30 May 2025 at 06:42
Load More
Tags: Angela LeongFok FoundationMacauPansy HoSJMSTDM
Share127Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Grand Korea Leisure’s June casino sales down 68% on 2019 levels

Grand Korea Leisure continues steady rise with casino revenues of US$22.4 million in May

by Newsdesk
Wed 4 Jun 2025 at 23:50

Foreigner-only casino operator Grand Korea Leisure reported casino revenue of KRW30.6 billion (US$22.4 million) in May, up 4.0% year-on-year but down 15.3% compared with April. GKL’s casino revenue comprised a 1.9% year-on-year increase in table revenue to KRW27.1 billion (US$19.8...

Korea recovery continues as Paradise Co sees June revenue soar 25.9%

Korea’s Paradise Co enjoys best month of the year in May as casino revenues hit US$61 million

by Newsdesk
Wed 4 Jun 2025 at 23:43

Leading Korean foreigner-only casino operator Paradise Co reported casino revenue of KRW83.6 billion (US$61.2 million) in May, up 10.3% year-on-year and 24.2% higher than in April, according to information filed with the Korea Exchange. It was also the company’s best...

Macao Government Tourism Office to hold roadshow in Bangkok this Friday, all six concessionaires to attend

Macao Government Tourism Office to hold roadshow in Bangkok this Friday, all six concessionaires to attend

by Pierce Chan
Wed 4 Jun 2025 at 23:35

The Macao Government Tourism Office (MGTO) will host a large-scale roadshow in Bangkok this Friday, with all six concessionaires in attendance as they look to further promote Macau’s tourism appeal. According to information from the tourism body, the roadshow represents...

JP Morgan analysis says Bangkok IRs could generate combined US$5 billion annually

Entertainment complexes can transform Thailand’s concert and sports scene by incorporating world-class arenas, says government

by Ben Blaschke
Wed 4 Jun 2025 at 23:34

Legalizing casino gaming within large-scale, multi-billion-dollar entertainment complexes would allow Thailand to develop the world-class concert and sporting venues it currently lacks, the government explained during an official Press Briefing on Wednesday. It also cited the opportunity to build “globally...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English