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Macau Gambling King Stanley Ho Dies at 98

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5 years ago

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Macau Gambling King Stanley Ho Dies at 98
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Macau casino king Stanley Ho has died on Tuesday (May 26) at the age of 98. He was known as the godfather of Macau casinos and was instrumental in turning Macau into a gambling boomtown.

The flamboyant tycoon, who loved to dance but advised his nearest and dearest to shun gambling, headed one of the world’s most lucrative gaming businesses through his flagship firm, SJM Holdings Ltd, valued at about US$6 billion.

Ho spearheaded what is known in Macau as the junket VIP system, whereby middlemen act on behalf of casinos by extending credit to gamblers and taking responsibility for collecting debts.

Some of Ho’s children have become successful gaming operators in their own right. Daughter Pansy is the co-chairperson of MGM Resorts’ Macau unit while son Lawrence runs Melco Resorts & Entertainment.

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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.

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