Macau gambling king Stanley Ho dies aged 98

Macau gambling king Stanley Ho dies aged 98
Macau gambling king Stanley Ho dies aged 98

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Nevin Al Sukari - Sana'a - Tycoon Stanley Ho looks out from the Macau Ferry Terminal and in the background berths his latest in a fleet of jetfoils from his Hong Kong flagship company Shun Tak Holdings Ltd, in Hong Kong — Reuters file pic

HONG KONG, May 26 — Macau gambling king Stanley Ho, who built a business empire from scratch in the former Portuguese colony and became one of Asia's richest men, died today at the age of 98, state broadcaster China Central Television (CCTV) reported.

The flamboyant tycoon, who loved to dance but advised his nearest and dearest to shun gambling, headed one of the world's most lucrative gaming businesses through his flagship firm, SJM Holdings, valued at about $6 billion.

Born in Hong Kong, Ho had four wives and 17 known children, and was forced to restructure his business after a legal battle erupted within the family in 2012 over his fortune.

Analysts do not expect his death to have a big impact on day-to-day operations. — Reuters

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