RIP father of Macau, Stanley Ho
May 26th, 2020 at 6:15:04 AM
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Stanley Ho, Who Turned Macau Into a Global Gambling Hub, Dies at 98:
https://www.nytimes.com/2020/05/26/business/stanley-ho-dead.html
- amassed a family fortune that Bloomberg estimated at more than $12 billion in 2017.
- Operating or owning 20 casinos and related businesses, he employed a quarter of the labor force in Macau, a small city a short ferry ride from Hong Kong.
- For years, his enterprises accounted for over 70 percent of Macau’s tax revenue
- Mr. Ho’s gambling monopoly came to a close in 2002, as the Beijing authorities ordered an opening of Macau to competition from foreign casino companies.
- but His profits soared as hordes of newly wealthy mainland Chinese turned Macau into the world’s biggest gambling destination
however, His final years were marked by bitter, public bickering among his 14 surviving children from four wives, many of whom tried to push him aside and claim stakes in his empire.
https://www.nytimes.com/2020/05/26/business/stanley-ho-dead.html
- amassed a family fortune that Bloomberg estimated at more than $12 billion in 2017.
- Operating or owning 20 casinos and related businesses, he employed a quarter of the labor force in Macau, a small city a short ferry ride from Hong Kong.
- For years, his enterprises accounted for over 70 percent of Macau’s tax revenue
- Mr. Ho’s gambling monopoly came to a close in 2002, as the Beijing authorities ordered an opening of Macau to competition from foreign casino companies.
- but His profits soared as hordes of newly wealthy mainland Chinese turned Macau into the world’s biggest gambling destination
however, His final years were marked by bitter, public bickering among his 14 surviving children from four wives, many of whom tried to push him aside and claim stakes in his empire.
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
May 26th, 2020 at 3:41:59 PM
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Two years ago, I’d have skipped over this post. But after my 2018 visit to Macau, his death has meaning to me. I was happy to have seen “old” Macau at the Casino Lisboa, and also the “new” luxury Macau casinos.
Interesting obit. You could say his first gamble was smuggling Japanese goods during wartime!
Interesting obit. You could say his first gamble was smuggling Japanese goods during wartime!
