Stanley Ho, considered the father of modern gambling in China, has died at 98. The richest tycoon in the former Portuguese territory of Macao was also an accomplished ballroom dancer and had 17 children.
FILE : In this file photo taken on July 26, 2009, Macao tycoon Stanley Ho, talks to reporters after the Macau chief executive election in Macao. On Tuesday, May 26, 2020, the family of Stanley Ho, the Macao casino tycoon considered the father of modern gambling in China, has died at 98.
Tall, handsome and of mixed Chinese and European heritage, Ho fathered 17 children with four women. His extended family erupted in high-profile squabbles over his empire during his later years.“I don’t gamble at all. I don’t have the patience,” Ho told The Associated Press in a rare interview in 2001. “Don’t expect to make money in gambling. It’s a house game. It’s for the house.”
Ho disputed a supposed transfer of his entire multibillion-dollar stake to five of his children and one of his wives, calling it a “robbery” that went against his desire to divide the fortune equally among various branches of his family. In 1948, Ho married Clementina Leitao, the daughter of a prominent lawyer in Macao who had connections to Portugal and to Macao high society. Those ties and Ho’s efforts to curry favor with Macao authorities are said to have helped him and his business partners win the casino monopoly when it came up for bidding in 1962. About the same time, Ho married Lucina Laam under a Qing dynasty code allowing men to take multiple wives. Hong Kong outlawed the practice in 1971.
The new players brought slick offerings to compete in the world’s most lucrative gambling market with SJM’s nearly two dozen no-frills casinos — the company didn’t build its own lavish megaresort until years later.
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Macau gambling king Stanley Ho dies aged 98Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died on Tuesday at the age of 98, state broadcaster China Central Television (CCTV) reported.
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Macau gambling king Stanley Ho dies aged 98Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died on Tuesday at the age of 98, state broadcaster China Central Television (CCTV) reported.
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