CLAIMS TO FAME
- Among the most prominent of Dr Stanley Ho’s 17 children
- Has interests in two Macau concessionaires plus multiple other real estate and hospitality holdings
It’s been quite the year for MGM China – the Macau casino concessionaire of which Pansy Ho holds a direct 22.49% stake.
Once considered the smallest of the SAR’s six operators, MGM has soared up the charts over the past few years, buoyed by the addition of almost 200 new gaming tables under its government-imposed table cap, early mover status in the smart table race and a renewed competitive spirit that has seen it roll out a seemingly endless series of initiatives aimed at enticing customers to the gaming floors of its Macau resorts – MGM Cotai and MGM Macau.
While this tactic – which has included everything from offering free snacks to guests to the opportunity to purchase mini Labubu toys with rewards points – has frustrated rivals, its impact has been undeniable.
In the June 2025 quarter, MGM China reported its highest ever Adjusted EBITDA of HK$2.51 billion (US$320 million) on revenues of HK$8.67 billion (US$1.10 billion) and EBITDA margin of 28.9%. The company’s Macau market share, which once hovered below the 10% barrier, hit 16.6%.
Soon afterwards MGM China declared an interim dividend of HK$0.313 per share for the first six months of 2025, amounting to a total payout of HK$1.19 billion (US$152 million) and accounting for 49.9% of profit attributable to owners of the company. This was significant because the company had only months earlier unveiled a new dividend policy under which it was able to pay a regular dividend of up to 50% payout – enhanced from its previous policy of a regular dividend up to 35%.
All of this plays to MGM’s rising confidence in its Macau operations, where it remains vocal about its ongoing investment plans. Late last year it launched a new residency show, Macau 2049, at MGM Cotai’s MGM Theater while more recently the company soft-launched a new “ultra-high-end” gaming space called Alpha Club plus 28 Alpha Villas at MGM Macau – part of its mandate to keep making inroads into the city’s lucrative premium mass segment. New suite inventory at MGM Cotai is due to open early next year.
The increasingly strong performance of MGM China only serves to further strengthen Pansy Ho’s influence in the halls of power in Macau, further aided by her ties to Beijing and public support for the “One Country, Two Systems” model that has governed Macau under Chinese rule.
She still holds multiple public positions, including Member of the Standing Committee of The National Committee of the Chinese People’s Political Consultative Conference (CPPCC), Vice Chairman of the All-China Federation of Industry and Commerce (ACFIC), and Executive President of the All-China Federation of China Chamber of Tourism.
On the business front she retains a strong interest in the family empire that is STDM and in Shun Tak Holdings – the Hong Kong-listed property and transport firm of which she serves as Chairman, CEO and Director. Shun Tak is itself one of Macau’s biggest landowners, with interests in a number of Macau gaming operators including Artyzen Hospitality Group, which owns Artyzen Grand Lapa among others.
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