Gambling tycoon Stanley Ho dies aged 98

Stanley Ho, Macau tycoon

Billionaire Stanley Ho, who was considered the father of modern gambling in China, has died at the age of 98.

Known as the “King of Gambling”, Mr Ho secured for himself a four-decade monopoly on casinos in Macau, then used his home advantage to build an empire that still dominated the industry after it opened to foreign companies in 2002.

He was the former Portuguese colony’s richest tycoon, a lavish spender and accomplished ballroom dancer who wielded great influence both in Macau and in neighbouring Hong Kong while – according to US authorities – maintaining ties to organised crime.

Mr Ho fathered 17 children with four women. His extended family erupted in high-profile squabbles over his empire during his later years.

Even though casinos made his fortune, Mr Ho avoided the gaming floor.

I don’t gamble at all. I don’t have the patience,” he told the Associated Press in a rare interview in 2001.

Don’t expect to make money in gambling. It’s a house game. It’s for the house.

He also had stakes in businesses that run everything from the ferries and helicopters connecting Hong Kong and Macau, to department stores, hotels, Macau’s airport and its horse-racing tracks.

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