He may not be as recognizable in the United States, but Stanley Ho runs one of the biggest casino and gambling operations on the planet. Mr. Ho is a Chinese businessman and billionaire. Of course, he runs many Chinese businesses, but he is most well known for his casino empire. For almost forty years Mr. Ho and his SJM Holdings enjoyed a monopoly over gambling in Hong Kong. This was granted to him by the government. However, when Portugal succeeded control over the colony to China, the monopoly was cut down. Even with the addition of big time Las Vegas casino resort names like Las Vegas Sands and Wynn Resorts, Mr. Ho still has a vast majority of the market share.
For the past couple of years there have been reports of a decline in Mr. Ho’s health. He has been largely absent from the public since 2009. Mr. Ho is eighty-nine years old and it has been stated that he is ready to get his affairs in order. It was recently announced that Mr. Ho has transferred his entire ownership stake in his Macau casinos to members of his family. “Stanley Ho is a smart guy and he knows that we all have a limited time on this planet, so he is taking the opportunity implement what he thinks is fair and right while he is still alive,” stated gaming analyst, Jonathon Galaviz. He went on to say that Mr. Ho has a large close knit family and wants to make sure there is no confusion about what is too happen when he is gone.
Most casino and gaming analysts feel this will be good for stock holders in the long run. “We consider this move as a longer-term positive for SJM shares as this ongoing estate planning process should resolve some of the outstanding concerns over the ultimate succession of power,” said analyst Bill Lerner. While Mr. Ho may no longer have a direct say in the casino empire he built, he has ensured its longevity.
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