MGM co-chairman Pansy Ho has reiterated the need for gaming companies to diversify given mainland China’s anti-gambling stance, The Australian reports.
Ms Ho, daughter of gambling tycoon Stanley Ho noted Singapore as a great example of a region that is able to diversify into other forms of entertainment.
We see the good example of Singapore of how they have also been successful [in diversifying away from pure gaming], so with that in mind we simply need to address our own methodology,” she told The Australian.
“We do know that China is indeed against gaming.”
“It is against the law to do any sort of solicitation. Even from our standpoint we are always being very careful. We are forbidden … we can only structure gaming marketing in such a way that we don’t directly go to the customers in China,” she said.
Ms Ho is also the managing director of Shun Tak Holdings, a conglomerate listed in Hong Kong with core businesses in property, transportation, hospitality and investments.
“From my perspective — which is to operate some of the non-gaming components of the family businesses — we are interested in hotel management and ownership and we are starting to look at Australia,” she said.
“In the long run, even for us in Macau, we are now having to begin to diversify, that is why with all the concessions in Macau we are all building new facilities,” she added.