Macau gambling king Stanley Ho dies aged 98

FILE PHOTO: Macau tycoon Stanley Ho celebrates his 85th birthday during a ceremony, in which he donated HK$2.5 million ($320,510) to a charity, in Hong Kong November 20, 2006. REUTERS/Bobby Yip/File Photo

HONG KONG (Reuters) – 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 on Tuesday 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.

Reporting by Farah Master, Clare Jim and Donny Kwok; Editing by Stephen Coates, Anne Marie Roantree and Kim Coghill

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