HONG KONG - Mr Stanley Ho, a one-time kerosene trader who built a casino empire in Macau that propelled the Chinese island past Las Vegas as the world’s biggest gambling hub, has died at age 98, local media reported.
Mr Ho’s rise transformed Macau from a commercial backwater into the “Las Vegas of Asia” by exploiting its big advantage over the rest of China – casinos were legal. Mr Ho’s Macau monopoly expired in 2001, two years after China regained control of the island from Portugal. China then granted licences to competitors, including Mr Sheldon Adelson’s Las Vegas Sands and Wynn Resorts.
One of the enduring relationships between an individual and the CCP. Would be interesting to discover what value China (or Chinese Party members) drew from the relationship.
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