stanley Ho slideshow

“My confidence in Macau never changes”

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Stanley Ho, the founder of Sociedade de Turismo e Diversões de Macau (STDM) and the godfather of Macau’s gaming industry, passed away in Hong Kongon May 26 at age 98. He is survived by 14 children, 12 grandchildren and two great-grandchildren. Born in Hong Kong in 1921, he came to Macau with almost nothing and proceded to build a business empire worth over 50 billion patacas.

One of the last in-depth interviews given by Stanley Ho was published in the very first issue of Macau CLOSER magazine in February 2007. At the time, Stanley Ho Hung-sun, then

85, was facing one of the biggest challenges of his life: fierce competition from those who had not long previously transformed a portion of the Nevada desert into the gambling capital of the world something that didn’t seem to concern the entrepreneur very much.

Getting an interview with Stanley Ho just before he fell ill in 2009 was not easy. The SJM boss kept a daily schedule of appointments so full that even most young people would have had difficulty keeping up with it. On the other hand, from the point of view of the company managers, there were issues that were too delicate for him to address in this era of global liberalization, subject to strict supervision by stock exchanges and boards of directors. Even a minor misstatement or casual comment from the likes of Stanley Ho could be enough to ruin multimillion dollar investments. As a result, when we spoke to him in his office on the 39th floor of the Shun Tak Center in Hong Kong, we knew in advance that certain topics, such as the arrest of former Macau Secretary for Transport and Public Works, Ao Man Long, and the long legal battle with his sister Winnie, were matters not on the table for this meeting.

Here are some highlights of that interview, which took place on January 18, 2007, just a few days before the opening of Grand Lisboa Hotel, at the time, the group’s biggest investment in the era of gaming liberalization.

Macau CLOSER: What role do you think the Grand Lisboa will play within your group of companies and among the other hotel-casinos in Macau?

Stanley Ho – I believe the new Hotel Lisboa will be the best hotel-casino complex in Macau. It will give a good impression to all of Macau and in fact, some Chinese papers say, on completion, it will become one of Macau’s landmarks.

What will happen to the old Hotel Lisboa? Many people already consider it small, old, unfashionable…
Let’s be very honest, I still believe Hotel Lisboa is very well-designed. I think the architect, who was my relative, did a very good job. So I believe Hotel Lisboa should stay on at least for another 25 years.

Why should the Grand Lisboa become a landmark in its own right? Has it anything new to offer?
As you can see, the appearance of the hotel tower resembles that of a lotus flower, a symbol shown on the Macau SAR flag. There you have the symbolism. It has a much higher ceiling height, an improved atmosphere, which is a better way to enjoy gambling.

Entertainment included? New entertainment features were promised a few years ago, mainly by your American competitors, but until now nothing much has really happened in this area.
Well, they made many promises that have yet to be seen. In my case, when I made promises to bring more prosperity to Macau in 1962, many people said: ‘Stanley Ho is the biggest liar on Earth, he’s promising the Moon, nothing that he promises is true.’ But I’m afraid many of them soon came to realize that I honour my promises.

Has the competition been fair or unfair?

Let me put it this way: We are the only gaming concessionaire which is rooted in Macau. Being a local enterprise, all the money I made I put it back and invested it in Macau. The Americans, when they make money, they send it back. This is a great difference. We built the airport, the bridge, and many other things in Macau. They are all here serving Macau. But the Americans, they make a lot of money, and it all goes back to Las Vegas.

When was your first trip to Vegas? And what do you think about the so-called Casino Capital of the World? (I mean Vegas, not us…)
I seldom go to Las Vegas. It’s too far away and I don’t like long trips. I’ve been there three times in my life, the first being 15 years ago. But I do keep abreast of the developments there. I must give them some credit: they’ve changed a desert into so many hotels and brought in so many performances. But I don’t believe Las Vegas could overtake Macau ever. And I tell you why: Macau’s gaming industry has a much longer history than Las Vegas. Macau has long been known as the gaming spot in the region, and it remains the same now. We couldn’t be better situated. We are next door to the mainland, and now Mainland China is willing to open up and to maintain Macau as the one and only place in the country where gambling is legal. So we can’t go wrong. The Americans have promised to bring many, many tourists from foreign countries. They’ve brought zero! All we are getting now are those free individual travellers from China.

After facing competition from Sheldon Adelson and Steve Wynn, two giants of the gambling industry, which one seems to be the toughest rival?
Whoever is tougher isn’t my concern, because to me, SJM is always the toughest.

It is often stated that all STDM projects, including the Grand Lisboa, are submitted to a careful consideration from Feng Shui masters.
This is not true…. Feng Shui means nothing to me. All my life I never believed in Feng Shui.

You have no superstition whatsoever?

No, and I'll give you an example. In gambling, especially among Chinese, red colour means the bank loses. In my casinos you can see red colour all over the place. What’s wrong? For me it means nothing. And for gamblers I don’t think it means anything either.

Do you feel any nostalgia for the old Macau?

I remember particularly those old days when I first started my business here. It gives me great pride to see Macau turning from a fishing village into a modern city. Memories are good, but at the same time, I also look forward to joining efforts with the Macau people in building a new Macau.

Your internationalization drive seems to have Singapore as its most recent target…
No, I’m not interested in Singapore – not at all! Quite frankly, Singapore can never get anywhere near Macau. It’s far too restrictive and, as I said, Macau has an excellent location… Really, Macau has a lot of potential for development. And no matter in times of crisis or stability, no matter how the environment is changing, my confidence in Macau never changes.

Who has had the greatest influence on your life?

Let me tell you, what has influenced me most is not people – it is knowledge – as I often remind my children, ‘It is knowledge that is your life companion, not fortune.’

What will be your main legacy?

I’ll leave it to the Macau people to decide.

Do you imagine life without you?

Life without me? Of course, the company will go on, and I am sure, given our strong and solid foundation, the company will grow from strength to strength. A show is composed of various cast members, whether on stage or backstage, and it’s never been a one-man show.

Do you have anyone writing your biography?

Not yet. I still have time. I think I’ll live for 5 or 10 years more.

 

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