The Woman Who Surpassed 15 Siblings to Become the “Boss” of Macau’s Casino Empire: Who Is She?
After billionaire Stanley Ho, known as the “King of Macau’s casinos,” passed away at the age of 98, his daughter Pansy Ho is set to take over his empire.
About an hour after Stanley Ho‘s death, his large family gathered outside Hong Kong Sanatorium & Hospital to make the official announcement. The representative delivering the statement was none other than Pansy Ho, the daughter of Stanley Ho and his second wife. Stanley had a total of four wives and 17 children (one passed away in a car accident in Portugal).
For years, Pansy has been viewed as a potential heir while holding the position of chairwoman of one of Macau’s largest conglomerates and co-chair of the casino operator MGM China Holdings Ltd.
The death of Stanley Ho places significant pressure on Pansy Ho to unify the family’s interests behind a $15 billion fortune, revamp her father’s long-standing casino licensing model, and steer the “Casino King’s” empire amid the challenges posed by the COVID-19 pandemic, which caused a more than 90% decline in gambling revenue.
The “internal conflict” within this incredibly wealthy family could also be a major hurdle for Pansy. In 2019, a newly formed alliance helped Pansy Ho and her allies gain control of the family’s core casino licensing system, SJM Holdings Ltd. Stanley Ho‘s business empire includes 20 casinos under SJM, a China branch of MGM Resorts International, and ferry and helicopter services connecting Macau and Hong Kong.
While none of the remaining 15 children have openly opposed the alliance, investors and observers still speculate that the harmony within the Ho family may not be as smooth as it appears.
Moreover, Stanley Ho‘s fourth wife, Angela Leong, who is considered a rival to Pansy, holds 8% of the shares in the company controlling SJM Holdings Ltd, which could pose further challenges to Pansy Ho‘s takeover of the casino empire. Pansy also faces competition from her brother, Lawrence Ho, chairman of the Macau-based casino franchise Melco Resorts & Entertainment.
Having been educated in the U.S., Pansy Ho brings valuable experience in casino management and has deep knowledge of the tourism, real estate, and transportation sectors in the region. She has also worked at Shun Tak, a family business that controls ferry and helicopter services between Macau and Hong Kong.
