STANLEY Ho, the Hong Kong-born tycoon who made billions transforming neighbouring Macau from a sleepy Portuguese outpost into the world’s biggest gambling hub, died today at the age of 98, his family said.

Known as the “godfather” of Macau’s casinos, Ho was instrumental in turning the semi-autonomous city on China’s southern coastline into a gambling boomtown.

“My father has passed away peacefully just now at around 1pm at Hong Kong Sanatorium and Hospital,” Ho’s daughter Pansy told reporters.

“As Stanley Ho’s family member, we are really sad to inform you of this.”

China’s state-run CCTV described Ho a “patriotic entrepreneur”.

Ho monopolised the gaming industry until 2002 when the government allowed foreign investors, sparking a boom which saw casino takings contribute around 80% of the city’s annual revenue and overtake Las Vegas.

His Sociedade de Jogos de Macao Holdings casino-hotel empire remains a major player in Macau. – AFP, May 26, 2020.