Stanley Ho The King Of Gambling Officially Retires
The man known as the King of gambling in Macau, Dr Stanley Ho has formally retired from his role as Chairman of his company SJM Holdings.
Founded by Ho himself the company went on to win the gambling rights to a monopoly in Macau for casinos from 1962 up till 2002 when Macau opened up to other gambling firms both local and international.
Now 96 years old Ho began life in a wealthy family but the Great Depression in China bankrupted his father and a young Stanley Ho fled to Macau in 1942 with just $10 in his pocket.
He went on to become a billionaire and his life story was immortalised when winning the Outstanding Achievement Award at the International Gaming Awards back in 2011 when his son Lawrence Ho was there to receive on his fathers behalf.
Still today His company SJM control 22 of the 41 casinos in Macau, following his official retirement his daughter Daisy Ho was named as Chairman with Timothy Fok and Angela Leong, SJM’s managing director and Ho’s fourth wife, were named as Co-Chairs of SJM.
Ambrose So who is CEO of the company retains his position and also named Co-Chair.