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Aug 4, 2009
Stanley Ho has surgery
Stanley Ho (left), who has dominated gambling in the southern Chinese casino haven for the last four decades, was being treated in Hong Kong's Adventist Hospital. -- PHOTO: AFP
HONG KONG - MACAU casino magnate Stanley Ho has undergone surgery in hospital, his spokesman said on Tuesday, after reports of his health condition earlier sent shares in his casino firm SJM Holdings tumbling.
The 87-year-old, who has dominated gambling in the southern Chinese casino haven for the last four decades to become one of Asia's richest men, was recovering after the operation, the spokesman said.
'Mr Ho was admitted to hospital and has undergone a surgical procedure. He is in satisfactory condition, and is progressing well in his recovery,' the spokesman said in a statement released by Ho's holdings company Sociedade de Turismo e Diversoes de Macau (STDM) late Tuesday.
The statement came after various media reported that Mr Ho was hospitalised in Hong Kong's Adventist Hospital. The Apple Daily cited unnamed sources as saying that Ho had tripped and hit his head at home last week and had required surgery. The report said he was now in a stable condition but being kept in the intensive care unit.
His children, including daughter Pansy Ho and son Lawrence Ho, both of whom also run casinos in Macau, were pictured visiting him on Monday evening, the South China Morning Post said. The Economic Times said he had hemorrhoids.
Shares in SJM Holdings, the listed arm of Mr Ho's casino empire, tumbled in Hong Kong trading, falling as much as 5.5 per cent on the reports before closing at US$3.15 (S$4.52), down 4.6 per cent.
Mr Ho was last seen in public a week ago, but he missed Sunday's official opening of the Hotel Lan Kwai Fong in Macau, which is part-owned by his firm, the Post said.
Ho made his first fortune smuggling luxury goods across the Chinese border from Macau during World War II, before securing the only gaming licence in the then-Portuguese colony in 1962.
He ran the monopoly until a few years ago, when foreign operators were allowed to open casinos, sparking a boom in the city's revenues. Macau now takes in more gaming dollars than Las Vegas.
He went on to run transport businesses and a racetrack, making him one of Asia's richest men. Along the way, the keen ballroom dancer cultivated a playboy lifestyle, taking four wives and fathering at least 17 children. -- AFP
Aug 4, 2009
Stanley Ho has surgery
Stanley Ho (left), who has dominated gambling in the southern Chinese casino haven for the last four decades, was being treated in Hong Kong's Adventist Hospital. -- PHOTO: AFP
HONG KONG - MACAU casino magnate Stanley Ho has undergone surgery in hospital, his spokesman said on Tuesday, after reports of his health condition earlier sent shares in his casino firm SJM Holdings tumbling.
The 87-year-old, who has dominated gambling in the southern Chinese casino haven for the last four decades to become one of Asia's richest men, was recovering after the operation, the spokesman said.
'Mr Ho was admitted to hospital and has undergone a surgical procedure. He is in satisfactory condition, and is progressing well in his recovery,' the spokesman said in a statement released by Ho's holdings company Sociedade de Turismo e Diversoes de Macau (STDM) late Tuesday.
The statement came after various media reported that Mr Ho was hospitalised in Hong Kong's Adventist Hospital. The Apple Daily cited unnamed sources as saying that Ho had tripped and hit his head at home last week and had required surgery. The report said he was now in a stable condition but being kept in the intensive care unit.
His children, including daughter Pansy Ho and son Lawrence Ho, both of whom also run casinos in Macau, were pictured visiting him on Monday evening, the South China Morning Post said. The Economic Times said he had hemorrhoids.
Shares in SJM Holdings, the listed arm of Mr Ho's casino empire, tumbled in Hong Kong trading, falling as much as 5.5 per cent on the reports before closing at US$3.15 (S$4.52), down 4.6 per cent.
Mr Ho was last seen in public a week ago, but he missed Sunday's official opening of the Hotel Lan Kwai Fong in Macau, which is part-owned by his firm, the Post said.
Ho made his first fortune smuggling luxury goods across the Chinese border from Macau during World War II, before securing the only gaming licence in the then-Portuguese colony in 1962.
He ran the monopoly until a few years ago, when foreign operators were allowed to open casinos, sparking a boom in the city's revenues. Macau now takes in more gaming dollars than Las Vegas.
He went on to run transport businesses and a racetrack, making him one of Asia's richest men. Along the way, the keen ballroom dancer cultivated a playboy lifestyle, taking four wives and fathering at least 17 children. -- AFP
