Posts Tagged ‘Stanley Ho’

Stanley Ho

Stanley Ho is regarded as the “King of casinos” in Macau, he even has a street named after him.  Stanley Ho had a government granted monopoly for 40 years in Macau.  Stanley Ho is one of the wealthiest Asian men, he is worth over a billion dollars and at 88 years old is still strongly active in business.  Stanley is the 701st richest man in the world at this present time.  Stanley is chairman of many companies including the Shun Tak Group and IAsia.  Although in China he is regarded as a very influential businessman many people speculate that he is involved with the Chinese mafia but nothing has ever been confirmed.

The picture above shows Stanley Ho standing by a bronze sculpture of a horse’s head stolen from the old summer palace, Ho purchased it from a Taiwanese businessman for $8.4m and donated it to the chinese government.

Related articles-

History of gambling in Macau

Horse racing in Macau

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High rollers keep away from white truffle auction

In the Ritz Carlton in Tokyo there was a truffle auction on Sunday for the most expensive truffles in the world.  Last year Stanley Ho the casino tycoon purchased a white truffle for $330,000 which weighed 1.5kg.  1.05kg was the biggest purchased this year.  The overall spent on the truffles this year was not allot compared to the past years definitely signs of a recession with many key high rollers not attending.  Russians did bid over the phone but still overall turn out was not great.

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Steve Wynn and the large Diamond plum

Casino bosses are competing with each other over who has the biggest diamond.  Stanley Ho purchased a huge 218 carat diamond currently on display in one of his Macau casinos only to be beaten by Steve Wynn who purchased  a 231 carat plum diamond.  The diamond owned by Mr Ho is the largest in the world of its type, a cushion diamond and is nicknames “The star of Stanley.”  Wynn’s diamond is going to be displayed in one of his new casinos currently being developed in Las Vegas.

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Stanley HO takes company public

Macau King Stanley Ho takes gambling company public on Wednesday in a late bid to fortify his casino empire from Las Vegas rivals.  Ho is 86 years and incredible man who never seems to slow down and keeps up the pace literally when the Olympic torch passed through Macau he carried it for a leg in the Olympic torch relay.  This move to make the company public will be a big change in the family tradition as they have kept business amongst the family for years.

Ho is known to have said to his kids ”I have always told my children and my good friends: ‘For God’s sake, never gamble heavily and if you can avoid it, don’t ever gamble.”

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