Stanley Ho, nicknamed the “King of Gambling,” a multi-billionaire, philanthropist, and the force behind the world’s largest gambling empire on the island of Macau, has died at 98.
“My father has passed away peacefully just now at around 1pm at Hong Kong Sanatorium and Hospital,” Ho’s daughter Pansy told reporters via BBC News.
Macau’s “King of Gambling,” Stanley Ho Hung-sun, is facing a lawsuit filed by his own nephew for alleged unpaid shares dividends.
Based on court documents, plaintiff Michael Hotung, aka Mak Shun Ming, is suing the renowned casino tycoon for 2 billion Hong Kong dollars ($255 million).
Macau, the extremely rich city famous for being one of the most major gambling centers in the world, has one man to thank for its opulence — Stanley Ho.
Ho is Macau’s richest billionaire who single-handedly built Macau’s gambling-based economy when he secured a government-granted monopoly on the casino industry which he held for 40 years. The 94-year-old is famously known as “The King of Gambling.”