Macau gambling king Stanley Ho aka Ho Hung Sun died, Tuesday, May 26, 2020. This casino king died at the age of 98 years. Just so you know, Stanley Ho is a Hong Kong-born tycoon who owns the world’s largest casino network through Sociedade de Jogos de Macao Holdings (SJM).
He is also noted for successfully changing the face of Macau from a former Portuguese colony into a gambling center in Asia that surpasses Las Vegas, United States.
In 2002, Stan Ho monopolized the gambling business in Macau when the local government allowed foreign investors to enter. Stanley is also the owner of the largest gambling business empire and he is also listed as the richest person in Asia.
Interesting Story About Macau Gambling King Stanley Ho
There are many interesting stories about Stanley Ho that have caught the attention of the public.
For example, he left 17 children from his four wives.
One of them is Pansy who became the richest woman in Hong Kong by Bloomberg in 2018. Ho’s daughter Pansy explained that in Hong Kong her father was a very respected person.
“We hope to continue in our father’s footsteps and carry out our responsibilities to serve the community again,” Pansy said as quoted by Reuters on Tuesday (26/5/2020).
During his life Ho tried to keep his loved ones away from the gambling table. He also owns the world’s most profitable gaming business through his US$6 billion company SJM Holdings Ltd.
Ho also succeeded in building Macau into the largest gambling center equivalent to Las Vegas in the United States (US).
Stanley Ho’s Wealth From The Gambling Business
Everbright Brokers analyst Sun Hung Kai said Ho’s death could potentially lead to an inheritance struggle among his family. SJM shares rose 8.5 percent, passenger carrier Shun Tak Holdings Ltd jumped 17.6 percent, and casino operator Melco International Development Ltd rose 4.9 percent.
Quoting Forbes, Stanley Ho’s wealth was recorded at US $ 2 billion. He also bought the Mandarin Oriental Macau hotel last year and turned it into the Grand Lapa.
Ho is also a real estate boss in China. Later in Macau Ho also served as vice chairman of Macau International Airport, deputy chairman advisor Seng Heng Bank and chairman of Macau Horse Racing. While in Hong Kong he served as chairman of the real estate developer association.
Pansy Ho Chiu King, the first daughter of Stanley Ho’s second wife , said the father died around 1pm at the Hong Kong Sanatorium and Hospital.
“As members of the Stanley Ho family , we are deeply saddened to inform you of this,” said Pansy Ho.
Currently, the gambling business contributes about 80% of Macau’s revenue.
However, Ho’s gambling business was hit when Chinese President Xi Jinping launched a massive corruption eradication effort in 2014. However, after that, Ho’s business bounced back before being hit by the coronavirus pandemic which left casino places empty.
Quoting Forbes, Stanley Ho’s wealth reached US $ 2 billion (approximately Rp 29 trillion) in 2010.
This makes Ho the 488 richest person in the world.
In addition to being a gambling king, Ho is also listed as an entrepreneur in the real estate sector in China.
In Hong Kong, he has served as Chairman of the Real Estate Developers Association since 1984.
Stanley Ho Short Biography
Quoted from various sources, Stanley Ho was born into a rich family. He is the nephew of the first tycoon in Asia, Sir Robert Hotung who is known by the nickname ‘The Grand Old Man of Hong Kong’.
Stanley Ho is the ninth child of Ho Sai Kwong and Flora Sin. They are related to Sir Robert Hotung. But bad luck could not be denied, Ho’s father had gone bankrupt. This drove his family into poverty.
These bad conditions make Stanley Ho have to fight to change his fate.
In fact, Stanley Ho’s desire to study at the University of Hong Kong failed because of the outbreak of World War II.
In order to survive, bring Stanley Ho acquainted with the import export business. He is noted to have smuggled goods from Macau to China.
From there, he added to his coffers of money which allowed him to have capital to build a business. Unlike the gambling business he built, Stanley Ho never even gambled at first.
Instead, he made a fortune from the property business and expedition empire.
Macau Gambling King Stanley Ho, became known as the casino king in Macau, after he owns various casinos in Macau and is said to be one of the richest men in Asia. Reuters reported , shortly after news of his death, shares of his main company, SJM Holdings Ltd, rose rapidly.
Born in Hong Kong, Ho has four wives and 17 children. Last year Ho was ranked 17th out of the 20 richest people in Asia. From poverty to the casino business in Macau, this dancing fan has a wealth of up to 6.4 billion USD.
Ho arrived in Macau as a poor man with only 10 Hong Kong dollars in his pocket. He then got a job in the Macau government as a barter officer with the Japanese.Departing from that experience, Ho ventured to open his own trading company and he became a billionaire.
Stanley Ho is now the owner of the largest casino kingdom in Asia for over half a century thus earning him the nickname of the King of Gambling.
Stanley Ho built a business empire from scratch in a former Portuguese colony.
He now owns the company leading one of the most profitable gambling businesses in the world through his flagship company, SJM Holdings worth US$ 60 billion.
When he retired in 2018, Ho was estimated to have a net worth of US $ 6.4 billion.
Oh yes, Stanley Ho is also noted to have a blood relation with the famous actor Bruce Lee.