Pansy Ho has assumed the role of Managing Director at SJM Resorts, subsequent to a recent selection endorsed by Macau’s Chief Executive.
A recognizable presence on the board since 2019, Ho contributes extensive expertise from her executive positions within the broader SJM Holdings conglomerate. She has held the top position at the parent company as Chairman since 2018.
This designation solidifies her sway, granting her wider control over SJM Resorts. She will serve as the primary contact with Macau’s administration and act as the company’s representative in all formal affairs. Her duties encompass supervising daily activities, formulating strategies, and directing investment plans, guaranteeing everything conforms to legal and regulatory protocols.
This development follows SJM’s successful tender for a fresh gaming license in Macau. As a component of this procedure, they obtained authorization to reinforce their financial foundation to $6.184 billion USD, showcasing their dedication to the prospects of gaming in Macau.
The Macau administration is nearing a decision on the allocation of gaming permits for casino operations within its jurisdiction. Seven corporations, encompassing industry leaders such as SJM Holdings, Galaxy Entertainment, Wynn Resorts, MGM China, Sands China, and Melco Resorts, are competing for these highly sought-after licenses. A newcomer, Genting Macau, a subsidiary of Genting Malaysia, is also aiming to enter the market. These fresh licenses are anticipated to be implemented starting January 1, 2023, with a validity of ten years, thereby influencing the trajectory of Macau’s profitable gambling sector.