The flamboyant tycoon, who loved to dance and advised his nearest and dearest to shun gambling, headed one of the world's most lucrative gaming businesses through his flagship firm, SJM Holdings LtdHo oversaw the transformation of once-sleepy Macau into the world's biggest casino centre, outpacing the United States' Las Vegas strip, and held a monopoly until 2002 when the enclave licensed five other operators to run casinos.
Shares of companies in the family's empire surged on expectations of potential ownership changes involving Ho's family members.jumped 17.6% and casino operator Melco International Development Ltd"The market is expecting ... a scramble for inheritance. Under these circumstances there might be changes in company ownership, with some shareholders increasing their stakes," said Kenny Ng, a Hong Kong-based analyst at brokerage Everbright Sun Hung Kai.
The deal increased Pansy's control over SJM and put the alliance's influence at SJM ahead of Angela Leong, the casino operator's co-chairman and current wife of Ho. The holding company STDM has stakes in everything from luxury hotels to helicopters and horse racing. Analysts do not expect Ho's death to have an impact on day-to-day operations.
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