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Hong Kong Billionaire Stanley Ho to Step Down From Casino Empire, Aged 96

Ho to retire as chairman of Macau casino operator SJM Holdings
Daisy Ho to assume title while wife Leong becomes co-chair

Hong Kong billionaire Stanley Ho is stepping down from his casino empire and passing it on to his heirs #tictocnews(Source: Bloomberg)

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By Daniela Wei

April 13, 2018 at 3:37 AM UTC

This article is for subscribers only.

Stanley Ho became the latest Hong Kong billionaire to step away from the empire he built, passing along the top roles at casino operator SJM Holdings Ltd. to his heirs. Analysts will be watching to see how smooth the transition will be.

The 96-year-old Macau casino tycoon will retire as chairman and executive director of SJM after a June 12 shareholders meeting, according to a statement Thursday to Hong Kong stock exchange. He will become chairman emeritus. Daisy Ho, his 53-year-old daughter, will take on his roles. Angela Leong, 57, Ho’s wife and SJM’s second-largest shareholder, will act as co-chair with another executive director.