Gambling King He Hongshen has passed away, leaving behind a billion-dollar wealth empire

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07/19/2020 0 Comment

“Gambling King” He Hongshen has passed away, leaving behind a billion-dollar wealth empire
According to CCTV news reports, on May 26, Hong Kong and Macau well-known patriotic entrepreneurs, He Hongshen, the 9th to 11th Standing Committee of the CPPCC National Committee, passed away at the age of 98.According to Hong Kong media reports, He Hongshen fell into a coma at home at the end of July 2009, and was discharged from the hospital for nearly 8 months before returning home.In February last year, He Hongshen suddenly heard the news that his condition had deteriorated, and it was recently reported that he needed an injection of cardiac medicine.He Hongshen’s wealth map includes Macau Gaming Holdings Limited, Hong Kong Melco International Group, Hong Kong Sind Group Co., Ltd., Macau International Airport Franchise Company, Macau Chengxing Bank, etc.On June 12, 2018, Macau Gaming, a Hong Kong-listed company, announced that He Hongshen retired as chairman of the company, executive director and member of the executive committee of the board of directors, completely withdrew from the board of directors, and transferred to honorary chairman.Two years after retiring, “Gambling King” passed away, and the huge property distribution drama he left behind had just opened.Gaming success He Hongshen’s wealth empire, the market value of SJM Holdings alone reached 50.5 billion, and He Hongshen is known as the “Macao gambling king”.In 1961, he won the exclusive franchise of ENS in Macao. Forty years later, the casino in Macau owned by He Hongshen formed a monopolistic operation, including the Lisboa Casino built in 1970 and the New Lisboa Casino built in 2007.Through the accumulation of a large amount of original capital, He Hongshen stepped up to the peak of wealth of the “gambling king”.In 2002, the Macau government opened new gambling cards, the Sands ENS was opened in 2004, and the MGM Grand Palace was opened in 2007. Six companies with gambling cards operated for merchants, but the He Hongshen family still holds three of the six gambling cards.Aushold Holdings, listed on Hong Kong stocks, Melco International and Sind Group are the core assets of He Hongshen.According to the 2019 annual report released by SJM Holdings, the company achieved a total net income of 338 last year.7.5 billion feet, down 1 every year.6%; profit attributable to company owners is 32.07 billion.According to the first quarterly report of 2020, affected by the new coronary pneumonia epidemic, Aberdeen ‘s gaming gross revenue decreased by 62 per year.2% to 39.400 million US dollars, the total net income decreased by more than 59.8% to 34.800 million feet.Among them, VIP gaming revenue, mass gaming revenue and slot gaming revenue decreased by 69 respectively.6%, 57.9% and 51.At 6%, EBITDA and net profit were recorded to make up for 200 million rebuilds and 4.100 million pieces.At present, the market value of SJM Holdings reaches 50.5 billion euros.It is worth mentioning that the project in the Shanghai Lisboa Resort held by SJM Holdings is expected to open in the fourth quarter of 2020, opening the company’s layout in the Cotai area.At present, the Lisboa construction project has been basically completed and is in the stage of government approval. It is expected to open in the fourth quarter of 2020. After the operation, it will make up for the short board of Aobo that does not have its own tent in Cotai.Lisboa is expected to lay 300 gaming tables and add nearly 1,900 rooms to effectively supplement the company’s scarce room resources.Real estate, tourism, economy, etc., together support He Hongshen’s 100 billion wealth. He Hongshen’s other wealth main Sind Group is more diversified.Sind Group was established in 1972, mainly engaged in passenger transportation between Hong Kong and Macao, and catering and real estate.The attempt shows that Sind Group is an investment holding company that provides passenger transportation services to the main military. The company and its subsidiaries operate through four branches.Among them, the transportation division provides passenger transportation services; in the hotel and leisure divisions, in recent years, real estate developers have continued to move northward, and Sind Group is no exception.According to the company’s 2019 financial report, Sind Group earned 146 last year.500 million US dollars, an annual increase of 1.2 times, annual profit 51.0.9 billion tons, downgraded by 4 per year.35%; the company’s owners should account for 34% of the comprehensive profit.5.6 billion US dollars, a decrease of about 26% a year.Currently, Sindh Group has a city ranking of 92.7.6 billion euros.In addition to some of the aforementioned companies, the development of Melco International, which is controlled by He Hongshen, the second wife of He Hongshen, has gradually become stronger.Melco International Development went public in 1927 and is mainly engaged in leisure and entertainment business, technology business, and provides investment banking and financial services.In 2001, He Hongshen handed over this company to He Youlong, whose current market value has reached 225 billion euros.According to the company’s 2019 financial report, Melco International Development achieved a net income of 45 billion euros last year, which has increased by 10.5%; profit for the year was 18 billion tons, adjusted EBITDA was 12.5 billion tons.In addition to the above-mentioned three companies, He Hongshen has also invested in Vietnam, the Philippines, Portugal and other countries, and is involved in tourism, tandem, finance and air transportation, as well as private investment, including Macau Racing Company, Macau Lottery, etc.Some Hong Kong media once predicted that the proposed price of the “gambling king” in Hong Kong and Macau alone would be nearly 20 billion yuan, and the total assets could reach 100 billion yuan.He Hongshen in 1981.The wealthy families have frequently struggled for property. Heirs who can laugh till the end He Hongshen married a total of four wives and had 17 children.Who will control 100 billion assets after the death of the gambler?In 2018, He Hongshen announced his retirement. He Chaofeng, the daughter of the second wife, took over as chairman and executive director of Aobo Holdings and took charge of the core industry of the huge assets of the gambler.However, the fourth wife Liang Anqi holds SJM Holdings.The 62% stake far exceeds He Chaofeng and the third wife Chen Wanzhen.It is obvious that the current chairman and chief executive officer of Melco International Development is He Youlong, the son of the second wife, who holds company 53.85% of the shares.As the Sind Group, He Hongshen is the honorary chairman of Sind Group, Oakmount Holdings Limited, Renita Investments Limited, He Chaofeng, He Chaoqiong, second wife and third daughter He Chaoya are the top five shareholders of the company.”Gambler” is also a patriotic capitalist He Hongshen said in an official interview with the media that the title of “patriotic capitalist” given by the mainland is the most desirable honor in his life.On November 13, last year, the donation ceremony of the bronze statue of the horse head of the Old Summer Palace was antiqued in the National Museum. The horse head of the Old Summer Palace, which has been lost overseas for more than 100 years, was officially donated to the State Administration of Cultural Heritage.The bronze statue of Ma Shou was purchased by He Hongshen in 2007 and has been publicly displayed in Macau for many years.After mutual agreement, the State Administration of Cultural Heritage, after being donated, transferred the bronze statue of the horse head of Yuanmingyuan to the collection of Beijing Yuanmingyuan Management Office.At present, the bronze statues of Ma Shou and six other animal heads are being replaced by the National Museum.This is not the first time He Hongshen has donated the animal head. He bought the bronze statue of the pig head in 2003 and returned it to the country to donate to the Poly Art Museum.At that time, Hong Kong Sotheby’s auction company prepared Ma Shou for auction, which caused heated discussion.The bronze statue of the horse head of Yuanmingyuan is a looted cultural relic in modern China. If the auction changes again, it will cause huge losses.In September 2007, He Hongshen spent 69.1 million yuan to rebuild and purchase the bronze statue of the horse head of Yuanmingyuan. This price also set an auction record.After the success of the shooting, Ma Shou publicly exhibited in Hong Kong and Macau.He Hongshen said he hopes to gradually bring more people to participate in the protection of Chinese cultural relics.Sauna, Ye Wang Zhang Zeyan Editor Zhao Ze proofreading Li Shihui