Daisy Ho Takes the Helm at SJM Resorts as Macau Casino License Race Heats Up
Daisy Ho has assumed the role of Managing Director at SJM Resorts, signaling a major leadership transition for the prominent Macau casino enterprise.
This selection, determined by the SJM board and endorsed by Macau authorities, capitalizes on Ho’s considerable background within the organization. A member of the SJM board since 2019, she has also held the Chairwoman position at STDM, SJM’s parent company, since 2018.
SJM’s statement highlighted that this action provides Ho with amplified control and establishes her as the official representative of the company. She will act as the primary contact for all interactions with the Macau government and will supervise SJM’s subsidiary companies and affiliated organizations.
Moreover, Ho’s duties now encompass the daily business operations, influencing strategies, establishing objectives, and guiding investment approaches. Her attention will be directed toward guaranteeing that SJM’s actions consistently adhere to all legal and regulatory standards.
This change in leadership follows SJM’s successful acquisition of permission to raise its share capital to 5 billion Macau patacas (roughly US$618.4 million) from 300 million patacas. This financial move was an element of their broader plan to compete for a fresh gaming license under Macau’s revised gaming regulations, a bid that has subsequently been granted.
The administration in Macau is presently determining which entities will be granted licenses to manage casinos within the city. Seven corporations are competing for the opportunity, and the victors will secure the right to operate their gaming establishments commencing on January 1, 2023, for a lucrative period of ten years.
The existing casino titans are all striving to retain their profitable positions. These include prominent names such as SJM Holdings, Galaxy Entertainment, Wynn Resorts, MGM China, Sands China, and Melco Resorts. However, a new contender, Genting Malaysia, is entering the scene, aiming to broaden its presence in Macau.