CLAIMS TO FAME
- Succeeded legendary father Stanley Ho as chairman of SJM Holdings in June 2018
- Full sister of MGM’s Pansy Ho and Melco’s Lawrence Ho
To describe the past 12 months as eventful for SJM Resorts and its Managing Director Daisy Ho would be an understatement. Still very much in the recovery phase from the pandemic and yet to realize the potential of its US$5 billion Cotai integrated resort Grand Lisboa Palace, the company also continues to be challenged by the demise of the satellite casino industry.
Linked to nine of Macau’s 11 operational satellites at the start of 2025, SJM will be hardest hit by the government’s decision to shut down the satellite industry by the end of this year – particularly given an expectation that the company relocate 4,800 impacted employees within its ranks.
SJM has responded by outlining plans to fully acquire two of those satellites – Ponte 16 and L’Arc – while it recently announced a deal to purchase additional casino space at Lisboa Hotel to move some of the displaced gaming tables and electronic gaming machines. It is presumed many will also be moved to Grand Lisboa Palace.
The company is in the process of acquiring 12 floors of office space at a building in nearby Hengqin that it plans to convert into a three-star hotel – making SJM the first of Macau’s concessionaires to actively utilize the economic zone for tourism purposes.
Financial results remain subdued, however, and the company highly leveraged. It will likely be a few years yet before SJM can truly claim to be on an upward trajectory.
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