the King of gambling games Asia, Stanley Ho, who scratch built his business Empire in Macau and became one of the richest people in the Asian region, died Tuesday at the age of 98 years. It is reported the state television channel China Central Television (CCTV).
the Charismatic tycoon, who loved to dance to his old age and he advised his relatives and friends to avoid gambling, headed by one of the most profitable gaming businesses in the world through their Corporation, which is currently estimated at six billion dollars. Ho was the head of that in Macau it is known as a system of “VIP Janklow” in which middlemen act on behalf of the casino, providing credit to the players and taking responsibility for the collection of debts. Its a private company involved in many business sectors, from luxury hotels to helicopters and racing. Despite the crisis of the pandemic, its shares have steadily risen in recent months. For example, shares the largest casino in Asia, which belonged to Ho in April grew by 4.9 percent.
Ho was born in Hong Kong, he had four wives and 17 children. However, Reuters notes, he was forced to restructure their business after 2012, the family broke out the litigation because of his condition. Some of the children Ho have themselves become successful gaming operators. His daughter Pansy is the co-chair of the division of MGM Resorts in Macau, and his son Lawrence runs a major casino in the country.