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MACAU GAMBLING TYCOON FEELING THE PINCH

Las Vegas gambling magnate Sheldon Adelson made the headlines recently with the massive fall in his company's share price and its attendant impact on his personal fortune, reducing his net worth by billions.  This week the Macau Daily Times reports a similar decline in the finances of Macau casino tycoon Dr. Stanley Ho and his firm Sociedade de Jogos de Macau.
 
The newspaper reports that Ho has lost 89 percent of his fortune, now has 'only' around eight billion patacas and is listed as the lowest ranking billionaire in Hong Kong in the American magazine Forbes.

SlotsOasisAfter ranking fifth in the list early last year with 72 billion patacas, Ho’s estate now corresponds to a modest 19th place among the 40 richest men in the city. Top spot on the list goes to Li Ka-Shing, a real estate and telecommunications businessman.
 
But even Li Ka-Shing could not avoid the global financial crisis and saw half his fortune decline to 129,6 billion patacas. The Kwok family, which owns Sun Hung Properties, remained in second position, but lost 55 percent of its financial clout, equivalent to a total of 86,4 million patacas.
 
It's all relative, but the eight billion patacas “entry” barrier required in 2008 to get on the richest list has now gone down to a mere 3,8 million patacas!
 
UPDATE: Dr. Ho was quick to respond to the report that he had lost much of his personal fortune, ridiculing the notion and insisting rather obliquely that his Casinos were "printing money."
 
"Our casinos are the equivalent of printing money," said Ho. "We are printing every day, how could we be getting poor?" he commented to the South China Morning Post. "I suppose I should thank them (Forbes) for this, since now when you ask me to give donations, I don't have to donate so much," he scoffed.
 
"Those who want to kidnap me also don't need to think about it any more. I have no money."
 
The nephew of one of Asia's first tycoons, 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 went on to run transport businesses and a racetrack, making him one of Asia's richest men.



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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