Macau casino billionaire Stanley Ho died at 1:05 p.m. Tuesday afternoon (May 26) in Hong Kong at the age of 98.

Known as the "King of Gambling" in Hong Kong, Macau, and Taiwan, Ho remained active in his flagship casino business until 2017. He officially retired from Shun Tak Holdings and SJM Holdings in 2018. Daisy Ho, the daughter of the tycoon's second wife, succeeded Ho as SJM's chairman in June 2018.

Born in Hong Kong in 1921, Ho co-founded Sociedade de Turismo e Diversões de Macau, S.A. and held a monopoly over Macau's gambling industry between 1961 and 2002. The tycoon returned to Hong Kong to establish Shun Tak Holdings in 1972, which was listed the next year.

The gambling tycoon was known among Hong Kong's older generation as a cousin of late martial arts icon Bruce Lee.

Ho had been hospitalized at Hong Kong Sanatorium and Hospital since February 2019, and his condition began to deteriorate at the beginning of May, according to reports.

© Pakistan Press International, source Asianet-Pakistan