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Macau casino entrepreneur Stanley Ho to retire

Published

6 years ago

on


Macau casino entrepreneur Stanley Ho to retire
Photo Source: scmp.com
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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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