Former Macau monopoly needs leadership shakeup

The death this week of Stanley Ho, the towering figure of the gambling industry in Macau, produced global headlines, and for good reason: He had helped shape history, both in southern China and in much of East Asia. Today, Macau has become synonymous with gambling in the minds of many people and indeed it is far and away the biggest and boldest gambling capital, not only in the region, but in the entire world. More than any other single person, this was the work of Stanley Ho, the man who held Macau’s monopoly on the gambling industry from 1962 until 2002, or for forty years. The gambling empire that Stanley Ho built remains very big and very rich, though its sheer dominance has eroded significantly since 2002. To simplify a complex picture of corporate ownership, the main company that represents Stanley Ho’s legacy today is SJM Holdings Limited, one of the six gambling...

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