Hong Kong tycoon Stanley Ho passes away leaving an indelible legacy

Hong Kong-born casino magnate Stanley Ho Hung-sun, most noted for putting Macau on the world map as he transformed the once rural coastal settlement into a bustling city poised to take over Las Vegas as the gambling capital of the world, has passed away at the age of 98.

Pansy Ho Chiu-king, his eldest child from his second marriage, announced his death outside the Hong Kong Sanatorium & Hospital this afternoon. “Although we know the day will come, it does not ease our sorrow. Dad will stay in people’s hearts forever and our family will continue to [contribute] to society,” Ms Ho said, as reported by the South China Morning Post (SCMP).

Ho leaves behind a vast casino empire, reporting a net worth of about HK$50 billion in 2018, the year he retired. The tycoon controlled Macau’s gaming industry until 2002, when the government started to entertain foreign investments. This period galvanised the casino business in Macau, and would later be the region’s primary industry. Ho’s company, Sociedade de Jogos de Macao Holdings (SJM), to this day is a major player in Macau.

Ho is survived by 15 of his 17 children, and 17 grandchildren. While most of his children chose to lead private lives, three of them – Pansy, Daisy and Lawrence – have remained in the public eye and have become respected business leaders in their own right.

While Ho will be remembered for his fascinating and prosperous life, he will will also be celebrated for his numerous philanthropic efforts.