Inside Asian Gaming

INSIDE ASIAN GAMING MAY 2018 14 THE GODFATHER OF Macau’s gaming industry, Dr Stanley Ho, will retire as Chairman and Executive Director of SJM Holdings in June, the company has announced. In a filing to the Hong Kong Stock Exchange, SJM revealed that Dr Ho, 96, will step down from his position at the company’s 12 June annual general meeting, at which time he will be given the honorary title of Chairman Emeritus. His daughter and current board member, Daisy Ho, will be appointed Chairman and Executive Director in his place. Paying tribute to the contribution of Dr Ho, who held a monopoly on Macau’s casino industry for 40 years between 1962 and 2002 via his company Sociedade de Turismo e Diversões de Macau, SA (STDM), SJM Holdings said, “Dr Ho has justifiably been acknowledged as the founding father of Macau’s gaming industry, which has for some time been the largest in the world in terms of revenue. MACAU GAMING KINGPIN DR STANLEY HO TO RETIRE FROM SJM HOLDINGS Galaxy appoints Ted Chan COO – Japan Development Galaxy Entertainment Group (GEG) has bolstered its Japan team with the appointment of former Melco Resorts Chief Operating Officer Ted Chan as COO – Japan Development. Chan, who had been the subject of rumors suggesting he was in discussions with both SJM and Macau junket operator Suncity, will be based in Japan where he will be responsible for overseeing Galaxy’s Japan IR bid. In a statement, GEG Vice Chairman Francis Lui said, “I am delighted to welcome Ted to GEG and I am confident that he will add significant value to our existing team and successfully drive the execution of our Japan International expansion ambitions. Ted brings a wealth of gaming and integrated resort experience to GEG and we are fortunate to have a person of his caliber and experience joining GEG.” Chan’s recruitment was applauded by industry commentators, with analysts from brokerage Bernstein lauding it as a positive for Galaxy. “The company has been positioning itself as a strong potential candidate for a Japan integrated resort development if the gaming process were to move forward,” said Bernstein’s Vitaly “Under Dr Ho’s visionary leadership, the company and its subsidiaries achieved a significant growth in the past decade. The board expresses its sincere gratitude to Dr Ho for his invaluable contributions in building a solid foundation for the company’s continuing growth in the future.” Despite having maintained his position as head of SJM Holdings deep into his 90s, Dr Ho’s health has been in decline in recent years and he has been rarely sighted in public since falling ill in late 2009. In June last year he stepped down as Chairman and Executive Director of Hong Kong’s Shun Tak Holdings Ltd with another of his daughters, MGM China Co- Chairperson and Executive Director Pansy Ho, taking his place. His impending retirement from SJM Holdings will result in a re-shuffling of the board with Angela Leong and Timothy Fok to be named Co-Chairmen and Executive Directors of the company and Dr Ambrose So Vice-Chairman, Executive Director and CEO.