Casino Giant Stanley Ho Dies
Stanley Ho was a king in the gambling industry and is best known for transforming the dreary, former Portuguese colony of Macau into the liveliest gambling hub on the Asian continent. His daughter, Pansy Ho announced his passing at a press conference earlier this week. She confirmed that Stanley Ho passed early afternoon on Tuesday at the Hong Kong Sanatorium and Hospital in what she called “a peaceful death”.
The Stanley Ho Casino Empire
Stanley Ho’s target market has always been wealthy Chinese gamblers. Online gambling has always been prohibited in China which drove many gamblers to Macau to please their habits. Ho facilitated VIP junket tours which hosted high rollers from China in luxury casino resort tours. He also held high stakes in hotel chains, helicopters and horse racing events.
After a long-standing career, the gambling giant retired from his empire early last year. He restructured all his assets, handed over a large portion of his acquired wealth, and handed his businesses over to family members.
More About Ho
Over his lifetime, Stanley Ho married four times and fathered 17 children. His family are all billionaires in their own right and have control in several big companies. His last wife, Angela Leong is the co-chair and director of SJM. She also has property shares in Hong Kong, Macau, and Shanghai and is a member of the Legislative Council in Macau. Her net worth stands at $3.7 billion.
Ho’s son from his first marriage, Lawrence Ho, is worth $2.5 billion and is the current CEO of Melco International Development. His sisters, Daisy and Pansy Ho also have big positions at companies like SJM Holdings and Shun Chuk Holdings. Pansy Ho also recently did business with MGM resorts to create MGM China.
No further details about when Stanley Ho was laid to rest, or who will get majority control of his business interests have been revealed.
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