The Beginnings Of The Young Stanley Ho

The Ho family is a large family from Hong Kong, with most of the members specializing in the singapore online casino industry around the world. The father, Stanley Ho, was the first to make his fortune in Macau, the mecca of casinos, and one street in the city was even renamed with his name.

Stanley Ho is a businessman born in 1921 with the nickname “The King of Gambling.” For over 40 years, he managed a monopoly for the operation of casinos in Macau. He is one of the richest men in Hong Kong and Asia, with an estimated personal fortune of around $ 2 billion.

He made his fortune in the casino industry, but also in tourism, maritime air transport, the real estate market, and banking. It employs around ΒΌ of Macau’s employees. Suffice to say that he is on all the good deals …

At 21, and in the midst of World War II, he migrated to Macau. Very quickly, he found success by selling luxury items to the Chinese and creating a construction company. At the time, things were going very quickly, and business was booming for young Ho.

Stanley Ho and his monopoly in Macau

A few years later, he obtained from the government a monopoly to operate casinos in Macau, because it brought a lot of wealth to the city and brought tourism to life. Its main company became in 1961 the Sociedad de Turismo e Diversoes de Macau (STDM). It is with this that he will create several casinos in the city. He owns 14 in Macau alone, thanks to his company (SJM).

He has been suspected of dealing with the underworld and the Chinese mafia several times. Indeed, the activities of casinos are sometimes a means of dirty laundering money. Regarding Ho, nothing has ever been proven, and it is also likely that with the influence and power of man, prove anything would serve perhaps not much … It ‘ is one of the most important land-based casino players in the world.

In personal life, Stanley Ho had 4 wives and 17 children. Some of them work with him and his own shares in casinos. This is the case of his son Lawrence Ho – CEO of Melco Crown Entertainment and confirmed entrepreneur – and of his daughter Pansy Ho – who owns 50% of MGM Macau.

Stanley Ho and his family invest heavily in other casino projects in the Philippines, Vietnam, Russia, North Korea, etc. For his business activities, he has been awarded several times by various organizations such as the university from Macau, for example.

Leave a Reply

Your email address will not be published. Required fields are marked *