Casino tycoon Stanley Ho has named his fourth wife, Angela Leong, to succeed him as managing director of gaming concessionaire Sociedade de Jogos de Macau.
The appointment has been approved by the board of directors and the Macau government, according to a report in Macau Business.
Leong, a member of SJM’s board of directors and a Macau legislator, told the Macau Post Daily her appointment was a “normal procedure” and was dictated by the octogenarian Ho’s long recovery process from a head injury suffered in mid-2009. “It’s inconvenient for him to frequently travel to Macau and handle company matters,” she said. “That is why I was appointed.”
She added, “I will do my best to help the company maintain its leading position in the industry.”
Earlier this month, Ho transferred 7 percent of SJM Holdings to Leong, increasing her stake to 7.69 percent. He remains the company’s majority shareholder with 56.34 percent.
Ho names wife to head SJM
January 12, 2011