Gambling king Stanley Ho, the patriarch and king of gambling in Hong Kong and China, passed away on the 26th of May 2020 in Hong Kong. He was 98years old. Ho is survived by 14 of his 17 children and 3 of his four wives.

The news of the passing of Hong Kong’s king of gambling was confirmed by Pansy, his daughter, with no information on the cause of his demise. That is why the experts of the LeafletCasino service, who work in the field of online casinos, decided to understand everything and tell about his life path. In 2009, he underwent brain surgery after reportedly falling at home and hitting his head. He was in the hospital for seven months, he was rarely seen in public, and he was usually in a wheelchair whenever he was. He died at the Hong Kong Sanatorium & Hospital.

Political Ideology and Exploits

His empire contributed to a large number of the tax returns controlled by the Macau government. This earned him a higher reputation of being one of the most influential Macanese, with a territory named after him. For decades, he provided a very successful Asian input. His fortunes amassed over HK$20 billion ($6.4Billion) by his retirement in 2018. This was only a few months before he turned 97. Furthermore, His contribution to the Chinese economy also stretches to real estate and housing frontiers.

Ho never retreated in the face of Government pressure. The billionaire ensured a forty years-long monopoly on Casinos located in Macau. Then, he played to his advantage and dominated the industry even if it became open to foreign companies and investors in 2002.

Ho was described by many as a great ballroom dancer. He wielded great influence both in Macao and in Hong Kong. A very interesting fact about Ho is that as much as he built a large part of his wealth from it, he avoided gambling. He is very known for discouraging his friends and family to avoid the casino-floor.

Physically tall and handsome, mixed with both European and Chinese blood, he was able to diversify his income through buying stakes, owning stocks, leverage and equities in businesses like departmental stores, hotels, Macao’s airport, horse racing tracks, ferries, and helicopters connecting Hong Kong and Macau to Mainland China. He built a high mass of wealth through diversifying into unique sectors.

As a young man, Ho’s philosophy was “I’d rarely accept defeat. I will do things until I get them done”. And in the spirit of this philosophy, he became an accomplished businessman and a blueprint of excellence. Besides his lavish lifestyle, Ho was famous for being a philanthropist. Over 12 museums, hospitals, and sports centers in HK and Macau have his name on them.

He was a member of the Chinese People’s Political Consultative Conference (CPPCC), which functions as an advisory arm of the legislature. He was patriotic and, to a high level, generous.

The tax returns generated from his operations had accounted for half of the total revenue of Macau’s government. Although new game players brought slick offerings, he leveraged his connections. And at the time of Macau’s resumed entry to Chinese rule in 1999, he prospered. Due to his influence, the territory became the only location in China permitted to operate legal casinos. In line with the high inflow of retail gamblers, tourists, and affluence that fueled its growth, the territory surpassed foreign rivals, including Las Vegas Sands Corp, as one of the world’s largest hubs. 

Early Life 

Born to a family notable in wealth on the 25th of November 1921, and was an heir to one of the four families that controlled some of the wealth in the colonial era.

He didn’t graduate from the university due to the second world war. After his father’s exit in 1926, his father’s success collapsed. This created a twist of fortune. The family lost all they had and entered into poverty. Inspired by the actors in the movie casino, this development further motivated Ho to find his path in Macau with only Ten Hong Kong Dollars with him.

He got his first start at the Macau Cooperative Company, the largest firm in the territory. He earned money running nighttime smuggling basic items up the Pearl River Delta. He made his first million during this period at 24.

Married Life and Business

He married his first wife, Clementina Leitao. In 1942, she was an offspring of a wealthy Portuguese family. This lineage afforded Ho some business leverage, monopoly, and access to the upper crux of Portugal and Macau’s society.

His interests and properties stretched from Portugal to Vancouver over the years. The connection which he built continued to remain relevant to him. And in 1961, in line with the financial backing of Henry Fok Ying-Tung, Ho won the sole license in Macau – a huge financial deal. He got involved with other women, Lucina Laam and Angela Leong, in line with a Qing dynasty code allowing men to take multiple wives, in a reversal of a law that Hong Kong outlawed in 1971. Ho reportedly met Chan amidst some kind of personal crisis, and she helped him to cope with work burnout. She was a caregiver for his first wife, who later died in 2005. As with the thrills and bittersweetness of life’s years, the life and times of Tycoon Stanley Ho were met with beauty, luxury, and tragedies. From spearheading what is known as the junket VIP system, Shun Tak Holdings, SJM Holdings, and multiple casino operators. Often linked with organized crime by US Intelligence, an allegation he always denied.

Children and Succession- Stanley Ho

His eldest son Robert met his end in a car crash in 1981. Robert died alongside his wife. Robert, according to reports, was the closest to being considered his successor. The news of Robert’s exit was devastating to him and Clementina.

These days, some of Ho’s children have successful casino businesses and casino operation gaming entrepreneurs. His daughter Pansy is the co-chairperson of MGM.N resorts. At the same, his son Lawrence runs Melco Resorts and Entertainment. Also, Josie, born to his second wife, is a movie star and appeared in the movie “Contagion”.

Conclusion

The legendary casino king Stanley Ho lived an adventurous life full of privilege, poverty, war, lavish spendings, dancing and women. Nevertheless, he managed to keep his successful business and philanthropy going until the end of his life. Now, it is the time for his Empire to find its new owners and open the next chapter.