The man known as Macau casino king died at age 98. Stanley Ho built his gambling empire from scratch and became one of the richest men in Asia. The gambling tycoon loved dancing and don’t one people close to him to gambling.
Ho was still the head of SJM Holdings at the time of his death. It is one of the most profitable gambling companies with a value of around $6 billion. Also, the company enjoyed a four-decade monopoly on gambling in Macau. He helped transform the former Portuguese territory into the world’s largest casino hub.
Aside from the Macau casino, he also owned Sociedade de Turismo e Diversoes de Macau. The company has stakes in luxury hotels, horse racing, and more. In 2002, he lost his casino monopoly. It was three years after the territory returned to Chinese rule. Authorities opened Macau to other operators. As a result, Ho’s SJM faced stiff competition for the first time.
Macau Casino King Died
Ho left a massive mark in the Asian gambling industry. Although US regulators linked him to Chinese triads, he denied the allegations. Macau and Hong Kong residents adored him for his philanthropic work and unorthodox business style, according to bookie pay per head providers.
He launched the junket VIP system in Macau. Go-betweens acted as representatives of casinos by providing credit to players. Also, they are responsible for collecting debts.
Based on pay per head solutions reports, Ho enjoyed ballroom dancing and tennis even when he was in his 80s. His fourth wife was a dance instructor. He hogged the limelight and often part of celebrity gossip articles.
He left four wives and 17 children. In 2012, he had to restructure his business due to a legal battle within his family. After the legal battle, he was not part of the wealthiest people list in Hong Kong for the first time in decades.