Hong Kong’s king of gambling dies at 98. Stanley Ho, often referred to as the ‘king of gambling’ and one of Asia’s richest man has peacefully passed away at the age of 98.
He was the head of one of the world’s most lucrative gaming businesses, SJM Holdings which is valued at about $6bn (£4.9bn). But the flamboyant billionaire, who loved to dance, famously always advised friends and family to shun gambling.
“My father has passed away peacefully just now at around 1pm at Hong Kong Sanatorium and Hospital,” Ho’s daughter Pansy told reporters. “As Stanley Ho’s family member, we are really sad to inform you of this.” she added.
The late Stanley Ho dominated the casino business in the former Portuguese colony of Macau after winning a government monopoly licence in the 1960s. As his fortune grew, he expanded beyond Macau, building residential and office buildings in Hong Kong as well as operating casinos in other countries, including Portugal and North Korea.