MACAU BUSINESS leungchopan/Adobe Stock

Unsolved business “Because I became a refugee in Macau in

1941, we had this war in Hong Kong, I fought for the government as an air raid warden for 15 days. Our Hong Kong government

surrendered, so I took a junk and came to Macau in 16 hours and I was a refugee. So that’s why I was so much indebted to Macau”

growing steadily. And his unwavering and genuine paternal care for his very large family and the people of Macau was heart-warming to witness. Ho’s legacy will live on through his life-long contributions, his family, and the memories of so many people whose lives he helped shape.” A similar view was reflected by gaming consultant, Ben Lee, who stated to MNA that Ho left a “personal landmark in not only the local landscape but on the global scene as well” “He laid foundations for the modern gaming industry in Macau, and he managed to do that against all odds with the entry of the ‘VIP junkets’ into the modern gaming lexicon, a unique market segment that is so vital to gaming all throughout Asia. He has left his mark, and not only just in this corner of the world. Most of the people reading this are here in Macau because of him,” said the Managing Partner IGamiX Management & Consulting Ltd. Ho has long been seen as the hand that brought baccarat and junkets to Macau, a new card game and a new method to attract gamblers to local casinos that helped STDM boosted its profits to unseen heights until the local gaming liberalisation in 2002 forced Ho to share the local business pie with other gaming concessionaires.

26 JULY 2020

The gaming tycoon also left a complicated legacy in financial and gaming assets, by the simple fact that he fathered 17 children – two already deceased – with four wives. Ho had been effectively removed from the affairs of SJM Holdings, the gaming concessionaire linked to STDM since 2009, following a head injury and a series of brain surgeries. Despite the previous family feuds, Professor Ricardo Siu considered that most of the internal power issues between family relatives should have probably been resolved, considering the long period the gaming mogul has faced serious health problems. “Since Stanley Ho’s health problem in 2009 more than a

decade has passed. In my observation, the distribution of power and the internal authority arrangements within SJM should have already been resolved. I don’t see a lot of potential conflict within the corporation,” Professor Siu told MNA. However, according to analysts at Sanford C. Bernstein, while no changes are expected in SJM following Ho’s death, the group re-shuffle after his previous retirement left many issues unresolved.

“Unfortunately, some people still think that Stanley Ho knows too

many triads and is connected with the triads. This is very unfair, a real misconception”

Following his health incident in 2009, Ho was not

involved much in company matters and following a family dispute in 2011, his shareholdings were distributed among various family members, with daughter Pansy Ho entering the STDM board and with his fourth spouse, Angela Leong On-kei entering a management role at SJM.

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