Macao entertainment industry king Stanley Ho dies at 98

27 Mai, 2020, 15:50 | Auteur: Auguste Feret
  • Pansy Ho describes family’s “unspeakable sadness” at passing of Dr Stanley Ho

Macau casino billionaire Stanley Ho (何鴻燊) died at 1:05 p.m. Tuesday (May 26) in Hong Kong at the age of 98.

The flamboyant tycoon, who loved to dance but advised his nearest and dearest to shun gambling, headed one of the world's most lucrative gaming businesses through his flagship firm, SJM Holdings Ltd, valued at about $6 billion.

Ho's studies at Hong Kong University were interrupted by World War II.

Ho lost his gambling monopoly in 2002 when Macau was opened up to competition, three years after the enclave returned to Chinese rule.

STDM, Shun Tak Holdings Ltd, Sociedade de Jogos de Macau S.A. (SJM) and SJM Holdings Ltd released a joint obituary to commemorate the loss, while Hotel Lisboa and Grand Lisboa lowered their flags to half-mast.

United States regulators said Ho was linked to triads, or criminal gangs, which he denied.

Lam hailed Ho's contributions to Hong Kong, including his participation in the development of Hong Kong's community service and donations to charity organizations, schools and establishment of leisure and cultural facilities.

Mr Ho spearheaded what is known in Macau as the junket VIP system, whereby middlemen act on behalf of casinos by extending credit to gamblers and taking responsibility for collecting debts.

He had four wives and 17 known children, and was forced to restructure his business after a legal battle erupted within the family in 2012 over his fortune.

Ho fathered 17 children with four women. When he was 13, his father abandoned the family after being wiped out by a stock market crash during the Great Depression.

Macau gambling king Stanley Ho dies aged 98 - The Jakarta Post

"I had to throw away my uniform and run to Macau as a refugee", Ho said in the 2001 interview. "That was my capital".

The Liaison Office of the Central People's Government in Macau also issued a statement to Dr Ho's relatives, expressing its deep condolences for his passing. He also added to his wealth through a property and shipping empire.

Shares of companies in the family's empire surged yesterday on expectations of potential ownership changes involving Mr Ho's family members.

Bloomberg estimates his family empire is worth US$14.9 billion (S$21 billion).

Some of his children have become successful gaming operators in their own right. Daughter Pansy is the co-chairperson of MGM Resorts International's Macau unit, MGM China Holdings Ltd, while son Lawrence runs Melco Resorts & Entertainment Ltd.

Among his other children, Josie (何超儀), born to Ho's second wife, has forged a career as a movie star, appearing in the 2011 thriller Contagion.

SJM is Macau's oldest gambling company.

However, ironically, the casino king did not gamble. Keep comments relevant to the article.

Comments will be moderated. Final decision will be at the discretion of the Taipei Times.

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