Asia

Macau casino entrepreneur Stanley Ho to retire

Published

6 years ago

May 3, 2019

Niji Narayan

Macau casino entrepreneur Stanley Ho to retire

Photo Source: scmp.com

Reading Time: < 1 minute

Stanley Ho, the casino entrepreneur in Macau, is going to officially retire from his role as Chairman of Sociedade de Turismo e Diversoes de Macau (STDM). He has suffered a stroke recently. Ian Fok, son of tycoon Henry Fok, will take over as Chairman of the company.

He has 17 children from four different partners. Stanley Ho’s daughter, Pansy, and the Fok Foundation own a total of 53% of STDM and 31% of Macau International Airport. Ho has amassed 54% of casino operator SJM Holdings, which is owned by STDM. SJM is one of six companies authorised to operate casinos in Macau.

STDM was established by Ho and his business partners in 1962 and initially won the contract for Macau’s gambling monopoly.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.