![hong kong casino tycoon hong kong casino tycoon](https://cdn-japantimes.com/wp-content/uploads/2020/05/np_file_14635.jpeg)
“ was a person of good character, friendly and respectful, and a good communicator with an extraordinary intellectual capacity,” Cunha said.
![hong kong casino tycoon hong kong casino tycoon](https://cdn.cnn.com/cnnnext/dam/assets/211230220623-hong-kong-statues-symbols-2-restricted-super-tease.jpg)
SJM is still the largest casino operator in Macau by number of venues, with 22.įormer SJM executive director Rui Cunha also noted that Ho worked with a number of administrations in some of the region’s major projects, such as the city’s airport and the Macau Cultural Centre. But even after that, Ho’s firm – Sociedade de Jogos de Macau (SJM), which was created in 2001, and a subsidiary of one-time gaming monopoly Sociedade de Turismo e Diversoes de Macau (STDM) – continued to grow. Ho held onto a four-decade monopoly until the liberalisation of the industry in 2002. “And he managed to transform Macau and revolutionise the gambling industry.” Stanley Ho’s daughter mounts legal action over family trusts “He was a first nature businessman, a visionary, who was able to convince the authorities of how credible his ambition was. Many of his projects even took Portuguese names,” Fernandes said. “In fact, he was always a good friend of the Portuguese. Miguel de Senna Fernandes, lawyer and president of the Macanese Association, also said that Ho – who had investments in Portugal – showed “great ability” in dealing with both the Chinese and Portuguese authorities. “He never wanted to take a position in the local politics – he preferred to have a discreet participation and continue doing what he knew the best, which was creating wealth, not just for him, but also for the city and the region.” Valente noted that Ho turned down plenty of opportunities to enter politics. Stanley Ho (right) pictured in 1990 celebrating the promulgation of Hong Kong’s Basic Law with Zhou Nan (centre), director of the local branch of the New China News Agency (now Xinhua) and Dr Ann Tse-kai, chairman of Hong Kong’s Basic Law Consultative Committee. “But he would not brag about it … He would not come out and share the content of those meetings.” In many of the most crucial decisions for the city, his opinion was very important,” lawyer Valente said. “He was often heard by the governors of Macau. But, according to Ho, Liang just smiled after he floated the idea.ĭespite Ho’s close relations with Beijing officials, he was also able to court the Portuguese authorities in Macau and the local community. Several Hong Kong tycoons, including Li Ka-shing and Henry Fok Ying-tung, were also present at the gathering. Moore pays tribute to billionaire Ho, owner of champion horse Viva Pataca In the late 1960s, Ho shared his plan during a dinner with Liang Weilin, then director of Xinhua news agency’s Hong Kong branch, which was China’s de facto embassy in the city under British rule.
![hong kong casino tycoon hong kong casino tycoon](https://www.picclickimg.com/YVIAAOSwQXVfhY3z/Very-Rare-Vintage-Lee-Gardens-Hotel-Hong-Kong.jpg)
But despite the backing of prominent figures in Hong Kong, Ho’s proposal did not materialise. The casino tycoon pledged to help fund the plan if approval could be obtained from the UN, Britain and China. “My proposal could boost China’s international image and freeze or even stop Hong Kong’s serious brain drain.” “The June 4 incident has shattered local confidence and this crisis could be fully resolved if China announced in the near future the decision to lease Hong Kong and Macau to the UN after they revert to China,” Ho said at the time. The proposal to bring the UN headquarters to the neighbouring cities was seen as testament to Ho’s political understanding of the region. He had a great and sharp understanding on many issues and was rarely wrong.” “And he was heard on issues that involved the local economy and politics during the drafting of the Basic Law. “He discreetly maintained his contacts with the Chinese authorities,” said Valente, who worked on several occasions with Ho. Ho was a member of the Basic Law Consultative Committee of Hong Kong and a vice-chairman of the Macau Basic Law Drafting Committee. Macau casino magnate Stanley Ho dies aged 98Īlthough Ho’s role as an interlocutor between the two sides of the border was rarely publicised, he was involved in the discussions about the Basic Law – Macau’s mini-constitution – before the city’s handover to China in 1999, which came two years after Hong Kong’s return. “He was always a Chinese patriot – and he served many times as a bridge between the interests of Macau and even of the Portuguese authorities’ interests with China,” said Jorge Neto Valente, head of the Macau Lawyers Association and a former lawmaker. It also demonstrated he was no ordinary businessman, but a canny political operator with a broad understanding of the world that helped him successfully navigate the changes taking place in Macau, while building an empire that has survived multiple administrations. Photo: SCMPĪlthough the project never took off, it showed how much of a visionary Ho was. A Post article from 1989 on Stanley’s Ho post-handover vision for Hong Kong and Macau.