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Jul 20, 2018  

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Stanley Ho, Gambling King of Asia, Retires

Ho, who was chairman of SJM Holdings Ltd., has led an extremely flamboyant life and remains one of the wealthiest individuals in Hong Kong. At one time, the business tycoon was thought to own or be involved with half the businesses on the island of Macau. And, although he no longer owns quite as much land as he used to, his http://vegasonlineskm.trekcommunity.com company still has controlling interest in several casinos in Macau and throughout Asia. Ho was born into a wealthy family in Hong Kong. However, his family went bankrupt. This financial hardship caused two of his brothers to commit suicide. His great-uncle, Sir Robert Hotung, was one of the richest people in the late 19th and early 20th centuries because of his import and export business. Ho was granted the first gambling license in 1962 when Macau was a Portuguese colony and maintained a monopoly on the island until 2002. As it is, Ho and the many casinos he has partial or complete ownership in are responsible for up to 80 percent of the economy of Macau, which is http://vegasonlineytk.bsimotors.com why he is called both “The King of Gambling” and “The King of Macau.” His net worth, according to Forbes, is approximately $3 billion. The entrepreneur first went to college and, then, when World War II broke out, he went into business.

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