According to recent news, Stanley Ho, the godfather of gambling in Macau dies at the age of 98.
Ho is most famous for building a casino empire in Macau which majorly shifted the Chinese island past Las Vegas as the world’s biggest gambling hub.
Ho’s vision transformed Macau into the Las Vegas of Asia. He also had investments in Portugal and North Korea.
“Ho’s Macau monopoly expired in 2001, two years after China regained control fo the island from Portugal. China then granted licenses to competitors including Sheldon Adelson’s Las Vegas Sands and Wynn Resorts Ltd,” Time
Macau’s growth, in addition to China’s economic boom, helped the island’s economy to accelerate in the world’s biggest gambling hub.
Ho’s rise to the top
Ho the father of 17 children was born on November 25, 1921, into a wealthy Hong Kong family of Chinese and European origins.
After his family’s situation deteriorated as a result of World War II. At the age of 21, he fled to Macau and started trading.
Ho was “an avid ballroom dancer and a former Hong Kong tennis champion. He won the Chinese Recreation Club doubles completion for older players for several years running into his 80.”
It is noteworthy to mention that Ho carries the Olympic torch in 2008 ahead of the Beijing Summer Olympics.
Recently retired in 2018. Post-retirement, he appointed his daughter as chairman and executive director.
Moreover, he appointed his fourth wife as co-chair along with another executive director.
Macau in the face of COVID-19
On February 10th, 2020, Macau’s six casino operators and their associated firms donated over £25 million.
The money was meant for research, prevention, and treatment of the infamous COVID-19 outbreak that has majorly hit the Asian region in particular, Hubei province in China.
After more than tens of thousands of COVID-19 cases have been reported worldwide, Macau’s casinos closed their doors for 15 days starting on the midnight of February 5th, 2020.
According to GGRAsia, a local gaming news outlet, the six companies in addition to their junket partners who are licensed to provide gaming services to the territory of Macau had donated more than MOP200 million (approx. £25 million) to help tackle the virus that has since claimed more thousands of lives.