King Of Gambling Stanley Ho Dies
The man who became famously known as the ‘king of gambling’ for having transformed Macau into the modern and world-class casino gambling capital it is today, the enigmatic Stanley Ho, has died at the advanced and celebrated old age of 98.
Ho secured his very first licence – a monopoly licence, no less – back in 1961. He soon after that became a pioneering figure in Macau and the Macanese gambling industry at large and eventually went on to lay the foundation and set the groundwork for SJM Holdings, a fortified force of business that would eventually become the king of gambling’s casino empire.
According to Ho’s daughter Pansy, her father died in peace around the afternoon our of 1 at the Hong Kong Sanatorium and Hospital. Daughter Pansy reportedly told reporters that she herself, as well as in her capacity as a member of the late Ho’s family, felt sad at having had to inform the world of Ho’s passing.
In The Beginning
Ho’s big break came when, towards the end of Portuguese rule in Hong Kong, gaming licenses had been handed over to Ho’s SJM Holdings, as well as to the likes of the Galaxy Entertainment Group, Melco Resorts & Entertainment, Sands China, Wynn Macau and MGM China Holdings. Today, SJM is a massive Macau shareholder and industry contributor and owns an incredible 20 of the 38 casinos operational and trading in Macau today.
Interesting and perhaps even slightly boggling to note is that despite his having made his fortune off of gambling, Ho wasn’t at all a fan of or a man given to gambling and/or betting. He would famously speak of how he never engaged in any gambling activities and that he simply does not have the patience for it. He also went on to caution against the belief that money can be made gambling, saying that gambling is a house game and should be treated as being for the house.
He Loved More Than Just Gambling
Ho however had other business interests too. His privately-owned Sociedad de Turismo a Diversoes de Macau, or STDM for short, owns investment shares in a variety of outside-of-gambling businesses. These include the famous Macau Jokey Club, a line of luxury hotels, and also several ferries and helicopters.
Ho will forever be remembered as the man who owned Macau and its diverse range of gambling endeavours and casinos. Ho is survived by his three children, namely Pansy Ho, Lawrence Ho and Leong On-kei.