Stanley Ho Is Recovering After Surgery

"Stanley Ho Is Recovering After Surgery | AboutHK.Com - more information about HK"

Bloomberg Stanley Ho, the Macau gaming tycoon, is recovering after undergoing surgery, his spokeswoman, Janet Wong, said in a faxed statement. The Apple Daily reported earlier today the 87-year-old billionaire was in intensive care following brain surgery. Hong Kong Adventist Hospital marketing officer Christine Chow said by telephone today that Ho had been admitted and was still in the hospital. Wong, in the statement, didn’t say what hospital Ho was in or what surgery was performed. SJM Holdings Ltd., Ho’s casino operator, fell 4.6 percent to HK$3.15 at closing. SJM, which operates casinos and hotels in Macau, has almost doubled this year. “Any report of this type concerning senior management at a company will introduce uncertainty,” said JPMorgan Chase & Co. analyst Billy Ng. Reports on Ho’s surgery have affected trading of SJM shares today, he said. Ho made a fortune as the monopoly operator of Macau’s casino industry for four decades, only to see the business open to competition in 2002. That allowed Las Vegas companies to enter the gambling enclave. Forbes magazine estimated Ho’s net worth at $1 billion in March of this year. Hong Kong’s Apple Daily newspaper said today that Ho had undergone brain surgery after a fall and was in intensive care. Ho was in stable condition after an operation last week to remove a blood clot in his brain, Apple Daily said. The long-term effects of the injury aren’t certain, the Hong Kong-based Apple Daily said. Ho is also chairman of Shun Tak Holdings Ltd., the Macau transport company and developer. Shun Tak fell 2.8 percent to HK$5.88 at closing in Hong Kong today. “I’m not too concerned,” said Alex Wong, asset management director of Ample Capital Ltd. in Hong Kong, which owns shares in Shun Tak. “It’s already a well-established company. Ho, at this age, isn’t likely to be that hands on in the company’s daily operation or decision making anyway.” Wong said he is using the stock’s pull back to “buy on dip.” To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; Sophie Leung in Hong Kong at sleung59@bloomberg.net This e-mail address is being protected from spambots. You need JavaScript enabled to view it Comments Please login to post comments or replies.