Godfather and King of Gambling in Macau, Stanley Ho Hung-sun, has passed away yesterday, Tuesday 26 May in the afternoon at about 1:00pm, Hong Kong media reported.
Stanley Ho had been under medical care for months at the Hong Kong Sanatorium & Hospital kidney dialysis and after his physical conditions started to deteriorate, his family was informed to come to the hospital and expect the worse.
The 98-year-old will forever be remembered for his gaming monopoly in Macau under Sociedade de Turismo e Diversões de Macau (STDM) exclusive concession until 2001 and seen as the godfather of gambling in Macau, Ho lived a colorful personal life and left his mark as being the man who dominated the city’s casino empire for four decades.
With several of his 17 children continuing to stay in the business, the Ho legacy continues to live on in many different forms.
Story of Stanley Ho
Born in 1921 as part of the Ho Tung clan, one of Hong Kong’s most prestigious families, Mr. Ho faced hardship early in life when his father Robert Ho-tung had lost his fortune during the great depression and abandoned his family.
Two of Ho’s brothers committed suicide.
Ho won a scholarship to study in Hong Kong University but was forced to abandon his plans when World War 2 forced his family to flee from the Japanese to Macau.
The Sir Robert Ho Tung Library was purchased in 1918 by Stanley Ho’s father, who lived there between 1941 and 1945. It was converted into a public library in accordance with Robert Ho-tung’s will.
Ho began working at a Japanese owned import-export firm in Macau, and made his first fortune smuggling luxury goods into China in World War 2.
He later set up a kerosene company in 1943 and profited from the post-war construction in Hong Kong.
In 1962, Stanley Ho won monopoly rights over gambling in Macau as part of a consortium with Teddy Yip, Yip Hon and Henry Fok, taking over a monopoly that was held by Tai Hing Company since 1934.
Ho retired as Chairman and Executive Director and as a member of the Executive Committee of the Board of the Sociedade de Jogos de Macau (SJM Holdings) on June 12, 2018.
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