CO-CHAIRPERSON AND EXECUTIVE DIRECTOR
MGM China
GROUP EXECUTIVE CHAIRMAN AND MANAGING DIRECTOR
Shun Tak Holdings
DIRECTOR
STDM
POWER SCORE: 2,070
POSITION LAST YEAR: 4
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
GIVEN the crushing impact the COVID-19 pandemic has had on just about every company she is involved with – and there are quite a few – it’s been a remarkably busy year for Pansy Ho.
MGM China’s Co-Chairperson and Managing Director, who took over responsibility for the day-to-day operations of the company’s two Macau resorts following the retirement of Grant Bowie in 2020, has spearheaded MGM’s bid under the Macao SAR Government’s re-tender for local casino concessions, with documents submitted in mid-September.
In order to comply with new requirements under the city’s revised gaming law, Ms Ho has also been named 15% shareholder and Managing Director of MGM Grand Paradise, the entity that holds MGM China’s gaming concession. While it remains unclear exactly what role this 15% Managing Director holding (revised up from 10% under the previous gaming law) means for the person within each concessionaire who holds it – keeping in mind that the MGM model has MGM China holding 84.6% and MGM Resorts the remaining 0.4% – it does suggest greater liability for Ms Ho in regard to the company’s future endeavors.
Then again, it’s not like she lacked skin in the game already. Arguably the most prominent of all Macau gaming magnate Dr Stanley Ho’s 17 children, the 60-year-old holds a personal 22.49% stake in MGM China, although she has been gradually reducing her interest in MGM Resorts, down to 0.82% as of June.
She also holds sway over fellow Macau concessionaire SJM, having led an alliance that took majority control of SJM’s controlling shareholder, Sociedade de Turismo e Diversões de Macau, S.A. (STDM), in early 2019. Her sister, Daisy Ho, is SJM Chairman and was also named the company’s Managing Director and 15% shareholder in September, replacing factional rival Angela Leong.
It is a sign of Pansy Ho’s influence that she has been granted special exemptions to MGM China’s own covenants which restrict its shareholders from holding a meaningful stake in any rival concessionaires. Those exemptions allow for her to retain an interest in the family business at STDM, while Ho also oversees 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 land owners with interests in a number of Macau gaming operators including Artyzen Hospitality Group, which owns Grand Lapa.
Ms Ho also chairs Estoril Sol, a listed company in Europe that operates three casinos in Portugal under a similar concession arrangement to the Macau system.
There may still be plenty of uncertainty around the future of Macau’s casino industry and exactly how the new 10-year gaming concessions will play out as the impacts of the COVID-19 pandemic eventually ease, but one thing is for sure: the influence of Pansy Ho is only expanding.
For the full list of 2022 Asian Gaming Power 50 winners, click here.
