Stanley Ho, the billionaire chairman of Macao’s biggest casino operator SJM, has handed over his shareholding to family members in order to ensure a smooth transition of control of his gaming empire.
Mr Ho’s 31.65 per cent stake in STDM, the controlling shareholder of SJM, will be roughly split between Chan un-Chan, Mr Ho’s third wife, and his second wife’s five children – Pansy Ho, Daisy Ho, Maisy Ho, Josie Ho and Lawrence Ho.
A company statement said 89-year-old Mr Ho no longer had an “attributable interest in shares of the company”.
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