The second son of tycoon Henry Fok, Ian Fok, is reported to be the new chairman of the Board of Directors of Sociedade de Turismo e Diversões de Macau (STDM), succeeding its founder, Stanley Ho.
Ian Fok is the representative of the Henry Fok Foundation at STDM. Combined, HF foundation and Pansy Ho control 54.11% of Sociedade de Jogos de Macau’s (SJM) shares.
According to media reports, the family owns the same number of STDM shares.
Following these changes, Ho’s sister, Nanette Ho, also left the management team, making way for Maisy Ho, the executive director of Shun Tak Holdings Limited.
Meanwhile, two further members of the Fok family will be part of the gaming group’s management, along with current members, Angela Leong and Ina Chan.
Back in January, Pansy Ho and the Henry Fok Foundation announced an alliance, giving them majority control in SJM.
As cited in the Hong Kong exchange filing, Pansy Ho and the Fok Foundation will own approximately 53% of STDM following the agreement.
The filing also indicated that these parties would collaborate on extending SJM’s gaming concession in the SAR, as it is set to expire in 2020.
Stanley Ho is the president emeritus of Shun Tak Holdings Limited, following his retirement last year as the chief executive officer and member of the SJM Executive Committee. LV
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