The Stanley Ho Success Story
Over the last few years some operators have made great efforts to promote the entertainment sector and to participate in developing the regions which welcome their activities. Among these visionary entrepreneurs is the Chinese, iconic casino figure: Stanley Ho. Thanks to the major work and building that he has led in the city of Macau, the cash gaming sector has flourished there, bringing at the same time prestige and many advantages to the city.
Not only have this Chinese billionaire’s companies created tens of thousands of jobs in the region but they also contribute greatly to the government’s income up to a level of more than 30%. All of these contributions have reinforced Stanley Ho’s influence in the region. During the 2008 Olympic Games, the city of Macau wished to honour and pay homage to this extraordinary entrepreneur by allowing him to carry the Olympic flame during its passage through the city.
Who is Stanley Ho?
Stanley Ho whose real name is Stanley Ho Sung-Hun is a Chinese businessman who is most well known for his great involvement in casinos. Born in Hong Kong in 1921, this young heir to the Ho dynasty left his native land to live in Macau when he was only 20 years old. Having started work as a bureaucrat after his studies, Ho succeeded in everything he undertook. Thanks to his unbelievable energy and his visionary character, the Chinese entrepreneur succeeded in putting in place large scale projects. His ability to speak english, chinese, japanese and portuguese allowed him to easily form relationships with people from each region. 1962 signalled a turning point in Ho’s life. In that year the Macau government granted him permission to promote tourism and casinos in the whole area. Since then, Stanley Ho has created and directed several companies, whose main activity has been casinos but also transport, finance and property investment.
Even though the government decided to open the casino market to other operators since 2001, Stanley Ho’s companies still reign supreme in Macau. At the moment the Chinese entrepreneur is worth about 6.5 billion dollars and has interests in other countries such as Hong Kong, Portugal, North Korea, Vietnam and the Philippines.
Stanley Ho, an emblematic figure in the casino market
Since arriving in Macau in 1941, Stanley Ho realised that the area had great potential for tourism. So he did everything to become close to the people and organisations which would be able to support him in his project to build a large entertainment complex in the region. To build up his own part of the start up fund, the young entrepreneur started out selling luxury items imported from China. In 1960 when the Macau government gave him the exclusive contract to set up casinos in the region, Stanley Ho succeeded in convincing some partners to create the “Sociedade de Turismo e Diversoes de Macau (STDM) Ltd. The first building from the young company was the Lisboa Casino & hotel, a vast hotel complex which also houses the largest casino in Macau. Thanks to Stanley Ho’s visionary character, the Grand Lisboa Casino rapidly became an international casino and holds the honorary title of the largest casino in Asia. At the moment STDM Ltd runs 18 other casinos in Macau and despite the opening up of the casino market in 2001, the company still has more than 40% of the market share in this sector.
Even though STDM Ltd is mainly based in Macau, the Stanley Ho group is also present in many other countries and in different sectors. He also has a large business in Hong Kong, his birthplace, as well as in other Asian countries like North Korea, Vietnam and the Philippines. To conclude, as well as his success in the world of entertainment, Stanley Ho has also extended his empire to other fruitful sectors such as property (mainly in Hong Kong), finance, transport, tourism and the audiovisual sector.
News about Stanley Ho
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