Asia

Stanley Ho to retire as SJM’s chairman

Published

7 years ago

April 13, 2018

Niji Narayan

Photo credits: https://calvinayre.com

Reading Time: < 1 minute

Stanley Ho, one of Asia’s richest men and widely known as Macau gambling king, is going to retire. He will retire as chairman of SJM Holdings at the forthcoming Annual General Meeting on June 12, the casino operator said in a filing to the Hong Kong bourse.

The 96-year-old Ho will stay on as Chairman Emeritus to the company. Daisy Ho, one of his daughters who is already on the board, will take over the reins of the business.

“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,” SJM said.

The flamboyant tycoon is one of Hong Kong’s best-known businessmen. His swashbuckling corporate deal making style transformed Macau from a sleepy peninsula dotted with seedy, windowless gambling dens into the world’s biggest casino centre.

Last June, Ho stepped down as chairman of Hong Kong conglomerate Shun Tak Holdings Ltd, with his daughter Pansy Ho taking over the position.

Source: reuters.com

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.