Written by :
Published on :
Macau gambling magnate, Stanley Ho, is recovering after undergoing surgery for an unspecified condition.
News of the 87-year old's hospitalization emerged early Tuesday in Asia.
Initial reports suggested that Ho was about to undergo brain surgery after falling on his head during a family gathering last week.
"Dr. Ho was admitted to hospital and has undergone a surgical procedure," his office said in a brief statement. "He is in satisfactory condition and is progressing well in his recovery."
According to the Wall Street Journal, between Mr. Ho, his daughter Pansy and his son Lawrence, the Ho family holds three of Macau's six gaming concessions. Mr. Ho's casino company, SJM Holdings Ltd., has continued to thrive even after Mr. Ho's 40-year-long gaming monopoly ended in 2002. His casinos, including his flagship Grand Lisboa, control about a quarter of the former Portuguese colony's gambling revenues.
Even in his old age, he is an active personality and a fixture of the Hong Kong tabloids.
Shares in Mr. Ho's companies both fell Tuesday after local newspapers reported that Mr. Ho was receiving treatment in a Hong Kong hospital. Casino operator SJM Holdings closed at HK$3.15 (41 U.S. cents), down 4.6%, while Shun Tak Holdings Ltd., the property-and-logistics concern under his control, closed at HK$5.88, down 2.9%.
Jagajeet Chiba, Gambling911.com
