LAS VEGAS (KLAS) — Macau is the world’s biggest gambling mecca and the man responsible for building it has died.
Stanley Ho died on Tuesday. He was 98 years old and known as the “King of Gambling” and the father of modern gambling in China. He built his empire from scratch and became one of Asia’s richest men.
Ho secured a four-decade monopoly on casinos in Macao, then parlayed his home advantage to build the empire that still dominated the industry after it opened to foreign companies in 2002. He wielded great influence both in Macao and in neighboring Hong Kong.
Analysts do not expect his death to have a big impact on day-to-day operations.