CLAIMS TO FAME
- Fourth wife of Stanley Ho
- Largest individual shareholder in SJM Holdings
Leong remains one of the most powerful female gaming identities in Asia thanks to her significant stake in SJM Holdings and ongoing co-chairmanship of the storied company.
Fears during the pandemic that Leong might be a prominent longer-term victim of the decline of SJM’s market share and the marginalization of its clutch of satellite casinos have not been realized. Instead, Leong this year monetized her command over the durable L’Arc and Jai Alai casino/hotel properties with more lucrative revenue deals from fellow SJM board members as business recovers. She also has a potential ace in the hole with the non-gaming Lisboeta, managed by Arnaldo Ho, her son with the late tycoon Stanley Ho, should that property be allowed grander ambitions down the road.
All in all, it’s not a bad set of prospects for a person who fell just short of controlling SJM. These days, her property interests in Hong Kong – which have elevated her to No. 32 on Forbes’ rich list for the city at US$2.6 billion – would be of equal if not greater concern than the travails of baccarat.
With Beijing and Macau officials increasing pressure on casino operators to diversify and expand non-gaming products, Leong’s eclectic business interests, political savvy and legislative network should keep her in clover for some time yet.
For the full list of 2023 Asian Gaming Power 50 winners, click here.
