Ian Fok To Replace Stanley Ho As STDM Chairman

Ian Fok To Replace Stanley Ho As STDM Chairman

When it comes to top gambling locations worldwide, Macau stands out as the global gambling hub. Also, when we talk of Macau’s gambling industry, one cannot undermine the contributions of one of the most prominent Macau entrepreneurs, Stanley Ho, whose career spans for over 50 years and who has been instrumental in making Macau the “mecca of gambling.”

Recently, Mr. Ho had suffered from a stroke, and now his health calls for retirement. According to the reports circulating in the local media, Ian Fok will be replacing his father as the chairman of Sociedade de Turismo e Diversoes de Macau (STDM).

Amongst the top six gambling operators in Macau is STDM owned SJM Holdings. STDM is owned by Mr. Ho’s daughter Pansy and the Fok Foundation. The two have over 53 percent stakes in SDTM and 31 percent stake in Macau Airport.

SJM holding is also one of the oldest gambling operators in the region, and they run multiple casinos and gambling venues in Macau.

It was Ho who had established the gambling company back in 1962 and had managed to secure the first gambling license in the Chinese territory. For quite some time the company was a monopoly in Macau.

Macau is the only Chinese territory where gambling is legalized. All games of chance are illegal in mainland China.

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