Pancy Ho – The Main Heir To Macau
Macau over the past 40 years has become an asian version of las vegas. Its attractiveness resort is largely owed to one person – stanley ho. The billionaire had 17 children – close relatives began to share the empire before his death. Among the main applicants for the throne – pency ho. She began to take an active part in the family business in the 80s. In 2021, forbes put it on second place in the list of the richest women of hong kong.
|date of birth||august 26, 1962|
|place of birth||portuguese macau|
Pancy 5th child stanley ho and senior daughter married with lucina azul. Most of the childhood took place in palo alto, california. Here is the future businesswoman studied at school for girls castile. For sevel years she spent in hong kong. Due to the move, she had to go to the monastery school of st. Paul.
Adult pency entered california university of santa clara. She successfully studied at bachelor in marketing and busines.
In 2007, pency ho receives the title of doctor at johnson university and wales in providence, rhode island.
The beginning of the way
My daughter never wanted to become part of the father's business. In school years, she was fond of art, musicals and a scene.
Ho tried to challenge on their own way in the entertainment industry in 1981. At this time, she met a breakthrough television series danny chanom.
At the age of 26, the businesswoman opens occasions pr-company, which is still working. At the same time, she helped the younger sister with the launch of a musical career despite the disapproval of the father.
Wind of change
In 1999, macao goes under the control of china. At this point, the opinion about the gambling business has changed. Penci became the managing director of shun tak – a multi-profile company, which is responsible for hong kong assets, transport, real estate and hotel chain.
Stanley ho stayed a monopolist for a long time. Until 2004, he was the only owner of the gambling license in macau.
The chinese government made the resort open to foreign investors. As a result, several large operators appeared on the market – wynn resorts and mgm resorts. Also competition began to make sheldon adelson. The last in 2004 opens las vegas sands.
Previously, the casino in macau was gray and inconspicuous. No one rolvaniv. Stanley ho was indifferent: which casino did not go to the tourist, he will pay him money. Then the real king was not wanted to give the throne. He invested the money in grand lisboa and ponte 16.
Pency ho, together with his father at the solemn opening of the casino
In 2004, pency ho took possession of half a subsidiary of mgm china. For a share in the new division of mgm resorts, she paid only $ 12.5 million. It is 9 times less than its partners invested. This deal will later help the businesswoman entrenched in the billionaire status.
War of capital
Foreign operators continued to invest in macau. Then experts expressed concerns that the infrastructure of the city is not ready for the influx of tourists. Operators, on the contrary, they expected to get superfield.
At the end of 2007, mgm grand macau casino was finally opened. Hairrollers from around the world gathered behind the tables. Joint venture pency ho and mgm resorts rated at $ 1.3 billion.
The hotel includes 35 floors, 600 rooms, 400 gaming tables, 800 slots and 16 private rooms. American operator brought las vegas in macau. Visitors not only got the opportunity to play large, but also found a lot of other entertainment. To their services have become available:
- Shopping centers.
- The circus.
Infrastructure development has a positive impact on average tourist stay. In 2006, the player was in macau 1.45 days. A year later, this figure has already increased – 2.45. Players found classies for leisure time between rates.
At the end of july 2009, stanley ho survived the operation. He stayed in the hospital for almost a year, and after discharge ceased to do business daily. He wanted to move away from affairs, but turned out to hostage family circumstances. Between children and wives began disputes on property rights.
In 2011, close relatives stanley ho were divided among themselves its assets in sociedade de turismo e diversões de macau (stdm). Terms of the transaction are not disclosed.
In 2021, pency also owns 23% shun tak, while her sister belongs only to 8.4% of the shares. The main heiress also got 1.1% in sjm holdings – the subsidiary of stdm. However, most of the state of pency is concentrated in mgm. In 2011, the chinese division goes to the ipo. The share of business has decreased from 50% to 27%, but in return she received more than.5 billion.
"I believe that in order to be mvp or the most valuable player, as in the game with the ball, it is not always necessary to be those who score a goal, – pency ho comments on the reduction of the share in mgm china.
The game is not finished
The influence of the ho family in macau staggered. According to market indicators, their casino takes second place, at least the have the largest number of tables. It is expected that after the death of father pancy ho will try to take away the share of his fourth wife. If this really happens, it will become the largest stdm shares holder – in 2019, the holding was owned by 22 casinos from 41.
Lisboa casino is one of the main attractions of the ho empire
Forbes estimates in november 2021, its capital is estimated at $ 3 billion. Her brother lawrence ho, meanwhile, $ 1.5 billion. Among its main assets casino melco resorts. At one time, he opened 4 institutions together with the australian businessman james packer – the son of the legendary kerry packer.