Father of modern day gambling in Macau Dr. Stanley Ho has died at the age of 98, state broadcaster China Central Television announced.
Dr. Ho was a flamboyant figure in the Macau industry and only officially retired from business in 2018, at the time his company said of him: “Dr. Ho has justifiably been acknowledged as the founding father of Macau’s gaming industry, which has for some time been the largest in the world in terms of revenue,” the company said. “Under Dr. Ho’s visionary leadership, the company and its subsidiaries achieved a significant growth in the past decade. The board expresses its sincere gratitude to Dr. Ho for his invaluable contributions in building a solid foundation for the company’s continuing growth in the future.”
Over recent years Stanley Ho has released much of his control over the company that also has involvement in Macau Jockey Club, Shun Tak Holdings, which operates the ferries and hydrofoils shipping gamblers into the territory and a stake in Macau’s international airport.
Also SJM controls 20 of the 38 casinos based in Macau, Dr Ho who was born in 1921 and many of his children work within the casino world, most notably Lawrence Ho and Pansy Ho.
In 2011 Dr. Stanley Ho was recognised by the International Gaming Awards (IGA) for his outstanding contribution to the gaming industry.