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Daisy Ho says shareholder alliance positive for SJM future

Daisy Ho, chairman of SJM Holdings and daughter of casino tycoon Stanley Ho, spoke of her support for the shareholder alliance involving the Fok Foundation, which will effectively give the group control over the future of the casino operator.

“The shareholders in the alliance all possess irreplaceable goodwill, accumulated through prolonged understanding and exposure in various industry sectors in Macau and mainland China,” said Ms. Ho, in what has been her first interview since the alliance was announced on Jan. 23.

Ms. Ho said the alliance has interests in retail, hospitality, conferences and travel services, and together with the Fok Foundation, “ we can leverage and apply these resources to further develop SJM’s competitiveness to pursue the new gaming concession,” she said.

Daisy Ho is the daughter of wife No.2 Lucina Lam, and is a full-blood sister to MGM co-chairman Pansy Ho and Melco chairman Lawrence Ho.

While the stock market has responded positively to a reinvigorated SJM board, analysts are concerned the move against Angela Leong, an influential figure in Macau in the gaming and legislative circles could spark in-fighting within the board that could lead to things being delayed.

Daisy, however, sought to tamp down on this speculation, saying the board will work collaboratively.

“Although the alliance is the ultimate controlling shareholder of SJM, no one should make isolated decisions,” she told Bloomberg. “My job is to conduct robust board discussions and deliberations.”

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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