Macao casino mogul Stanley Ho dies at 98

Tributes have poured in for Macao casino patriarch Stanley Ho Hung-sun, who died in Hong Kong on Tuesday at the age of 98.

The renowned businessman was well-respected for his achievements in many areas, including being one of the first entrepreneurs to invest in the Chinese mainland when the nation embarked on reform and opening-up in the 1970s, his generosity to charities and donating money to build schools.

"Although we knew this day would finally come, it does not soothe our indescribable sorrow," said Pansy Ho Chiu-king, one of Ho's children. She met the media alongside family members at Hong Kong Sanatorium & Hospital on Tuesday.

In a statement on behalf of Ho's family, Shun Tak Holdings, the Hong Kong-based conglomerate Ho built, said Ho had passed important values to the family.

"He taught us … to give back to society, to appreciate our heritage and, most of all, to be patriotic to our country," the statement read.

Pansy Ho, group executive chairman and managing director of Shun Tak, said her father had attached great importance to his children's education and reminded them that "everything gained from society must be used for society".

She said the family would go above and beyond to continue his legacy and fulfill their social responsibilities.

Pansy Ho also said her father, who had many businesses and connections in both Macao and Hong Kong, had always "loved the people of Hong Kong" and had earned a great reputation and high social status in the city.

Ho was born in Hong Kong on Nov 25, 1921. He was later admitted to the University of Hong Kong, but his studies were interrupted by Japan's invasion in 1941. Then, at age 21, he started his career in a trading company in Macao.

He dominated gaming in Macao after winning a monopoly license in 1961. As the business expanded, Ho achieved great success in gaming, air transportation, real estate, shipping, banking and tourism. SJM Holdings, which he founded in 2002, now controls 20 casinos and three hotels in Macao.

Ho served as a member of the Standing Committee of the ninth, 10th and 11th National Committees of the Chinese People's Political Consultative Conference, China's top political advisory body.

Ho's patriotism could also be traced through his fondness for culture and art. In November last year, Ho handed a red bronze horse-head statue－a long-lost national cultural relic that cost him HK$69.1 million to buy overseas－to the National Cultural Heritage Administration in Beijing to mark the 20th anniversary of Macao's return to China.

Ho also witnessed the return of Hong Kong to the motherland as a member of the Hong Kong Basic Law Consultative Committee.

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor issued a statement expressing her deep sorrow at Ho's death.

The Liaison Office of the Central People's Government in Macao SAR expressed deep sorrow over the passing of Ho and extended deep condolences to his family.

Macao Chief Executive Ho Iatseng sent a letter of condolences to Ho's family expressing his deepest regrets.

He praised Ho for his lifelong dedication to public welfare and for his significant contribution to Macao's prosperity and stability.