Stanley Ho hospitalized in Hong Kong
The Associated Press is reporting this morning that Macau casino tycoon Stanley Ho has been hospitalized in Hong Kong. His office said he had surgery but did not say what surgical procedure the 87-year-old billionaire underwent.
"He is in satisfactory condition and is progressing well in recovery," the statement said.
Pictures from Hong Kong’s Apple Daily newspaper showed a stream of Ho’s family members, including daughter Pansy and son Lawrence, visiting the hospital Monday. None of them commented on Ho’s health.
Stanley Ho is worth more than $9 billion according to Forbes. He had a virtual monopoly over Macau’s casinos for four decades until the one-time Portuguese colony was returned to China in 1999.
That opened the way for American casino operators Wynn Resorts, Las Vegas Sands Corp. and MGM Mirage to enter the market, the only place in China where casinos are legal.
Ho’s casinos, including the Hotel Lisboa and Grand Lisboa, control roughly 30 percent of the gambling market.