Chinese media mourns Stanley Ho as a patriot and innovator. He had a tremendous network of connections, and friends in the highest reaches of government. It is very difficult to put into words the extent of Stanley Ho’s power in Macau and Hong Kong, and his influence in these two cities is impossible to overestimate.
Under the guidance of Lawrence Ho, Melco Resorts is leading the charge for a series of lucrative contracts across Japan and forming alliances with some of the world’s most powerful gambling enterprises. One of his offspring is carrying on his father’s legacy in gambling, Lawrence Ho the CEO of Melco, the ultra-successful tycoon educated at the University of Toronto was a high-flying financial analyst before turning gambling CEO. Also, he had four wives and 17 known children. Stanley Ho could look back fondly at a career which saw him drastically alter the status quo of Chinese gambling, flooding the nation’s economy with external wealth and instilling a love for gambling culture. His projects included a major re-structuring of casino licensing laws in Asia, the establishment of a casino in many different territories including Portugal and North Korea.īy the time he had retired last year at the age of 97, his wealth was estimated to be at a massive $6.4bn.
– Pansy Ho, Daughter of Stanley Ho, SJM HoldingsĪfter receiving the government monopoly license in the 1960s, Stanley Ho was able to unleash the full might of his entrepreneurial ambition.
As Stanley Ho’s family member, we are really sad to inform you of this.
My father has passed away peacefully just now at around 1 pm at Hong Kong Sanatorium and Hospital. The billionaire who was recognized and known for his flamboyancy, would often dance on stage at private parties and often visited the casino floor of his prize real-estate to meet patrons and guests. Throughout the early 2000’s Stanley Ho oversaw the transformation of Macau into the gambling city of the world, which in 2006 was considered to be beating Las Vegas in terms of gross revenue at its casinos.īy this time Stanley Ho was head of one of the world’s most lucrative gaming businesses, with his firm SJM Holdings valued at $6bn. His business empire quickly grew, and included luxury hotels, helicopters, yachts, real estate, and various other ventures. Whilst this early venture paid Stanley millions of dollars, it would be his capture of the Macau gaming license and the subsequent monopoly he was able to establish that earned him the enormous wealth. Here he became a trader in the former Portuguese economy, quickly making a name for himself and building a reputation as a reliable broker for hard-to-find goods. The Ho family was a rich family from Hong Kong, and in his early days Stanley fled to Macau when the Japanese invaded in 1941 during the turmoil of World War Two. Unlike many of his billionaire partners and counterparts, Stanley Ho was often in the public eye, with the good, bad, and the ugly on full show for the world to see. Here he was hailed as the “patriotic entrepreneur”, and became a prominent figure in Chinese business discourse. Stanley Ho built his business empire throughout the entire Asian peninsula, but it was on the mainland of China where his status was most celebrated. Macau’s skyline was transformed as the wealth of Stanley Ho increased, his influence and contributions to the city have defined his legacy and his death is being widely mourned throughout China.