CLAIMS TO FAME
- Succeeded legendary father Stanley Ho as chairman of SJM Holdings in June 2018
These days SJM chairman Daisy Ho is as concerned about delivering on non-gaming innovations to meet the obligations of SJM’s new casino concession as she is about day-to-day gaming revenue. That helps illustrate the speed with which pandemic-era, newly-corruption-leery Macau is recovering, particularly as mass market gaming accelerates and heals years of fiscal wounding.
SJM has struggled with market share for years, and Beijing’s knifing of VIP and many satellite operations left SJM even more exposed by its limited metrics and peninsular focus. The failure of Grand Lisboa Palace to meet expectations for a Cotai investment and ignite the market has rendered it a peripheral property in geographical and revenue terms. The opening of The Karl Lagerfeld hotel at the Lisboa Palace in June won’t be expected to turn this around, and the company has a lot of work to do to balance reinvestment in its gaming properties and funding obligations for non-gaming.
The good news for SJM, and Macau, is that Daisy Ho has the experience and networks to resolve legacy challenges. She also feels no need to display the macho showmanship and political toadying that can afflict other operators. And she remains in the inner circle of Macau’s business elite, as her presence at government-corporate events demonstrates.
For the full list of 2023 Asian Gaming Power 50 winners, click here.
