Sharks of gambling industry. Part 2.

Steve Wynnindustry in Asia who for more than 30 years was
The third serious player on the market ofthe single ruler of this industry in Macao. Stanley
gambling entertainments in Las Vegas and Macao.was born in 1921 in Hong Kong. His
Steve was born in 1942 in Connecticut. Unlike Kirkgreat-grandfather was a Dutch Jew who married
and Sheldon, Steve received very good education,a local woman. The Ho family was one of the
according to American standards - he graduatedmost renowned and influential in Hong Kong. But
from Pennsylvania university. Steve had toStanley was not able to make use of the wealth
engage in private business straight afterof this family. His father went bankrupt, when
graduation. His father, the owner of the networkStanley was a student. Due to financial
of bingo clubs in the west of the U.S., died whenbreak-down his two brothers committed a suicide,
Steve was still a student. The son continues hisand his father renounced his family and left
business. Steve's career in "big" business starts inStanley with two sisters and mother. Despite all
1967. Having saved some money, he buys a smallhardships, he successfully graduated from Hong
share of the casino-hotel "Frontier" in Las Vegas,Kong university and mastered three languages.
where he moved for permanent residenceStanley started his career in a trade company,
together with his wife. Having no funds to build hislocated in Macao. Outstanding business skills and
own casino, Steve gets acquainted with theproficiency in several languages allow him to
owners of the already existing casinos and offersbecome a shareholder of the company at the age
them his services in renewal of their business. Hisof 21. Ho received his first fortune as a result of
first project was reconstruction of the casinoa very unpleasant accident. Stanley was
«Golden Nugget». Steve transformedresponsible for sea trade. During one of the
the absolutely ordinary casino into a luxuriousvoyages the ship with Stanley, who carried a
institution, which immediately became a greatgreat amount of money, aboard was subject to
success with the players. Having showed himselfan armed attack. Stanley, practically on his own
and earned a pretty penny, Steve decided to(many of his fellow employees were killed) stands
invest money into buying shares of other Vegasagainst the gang and returns both the money and
casinos, in order to reconstruct them as well. Thethe ship. The company duly appreciated the
following major project is renovation of the casinocourage of their employee and rewarded him a
«The Mirage». According to Steve'sbonus of one million! In 1943 Ho invested his million
conception, it was to become the mostinto construction industry, his new company is
outstanding, rich, elite casino of Las Vegas. Helocated in Hong Kong. At this time the city
intends to found there a big park and an artificialundergoes a real construction boom, and Stanley
volcano, and make the best rooms and hotelreceives very decent dividends from his business.
service in Vegas. Steve bets on luxury. DespiteBut his ambitions are not limited to construction
apprehensions of the partners (the project wasbusiness, together with his partners he wins the
very expensive), he managed to embody histender for the monopolistic right to open gambling
ideas. «The Mirage» became and for ainstitutions in Macao. Stanley won the tender with
long period remained the most prestigious casinothe sum of only 410 thousand dollars. For many
of Las Vegas, bringing huge profits to its owners.years Ho's company becomes the monopolist of
After this project Steve's name enters theMacao gambling market. Stanley invests all his
history of the world capital of gambling. However,money and skills in this company. By 1972 he
Steve does not rest on his laurels. Conversely, heowns 9 casinos, including casino-hotel
becomes thoroughly engrossed in a new reckless«Lisboa», one of the most beautiful
venture. Developing his conception of a "luxuriouscasinos of the world.
casino", he totally changes the casino-hotelIn the 90-ies Ho extends beyond the borders of
«Bellagio»: an artificial lake, an internalMacao and opens 9 casinos on the Philippines,
greenhouse, an art gallery with canvases of greathowever, as a result of a conflict with the
painters, expensive boutiques and restaurants.president of this country, he had to renounce his
Enormous diligence, multiplied by talent, madePhilippine business. Apart from the casino, Ho
Steve one of the richest people in Vegas, theowns many betting operators and totalizators. In
owner of casinos. In 2000 he sells «The2003 the budget of Macao by 30% consisted of
Mirage» to the company «MGMrevenues from the activities of the companies
Grand», which after this purchase changesthat belonged to Stanley. His business provides
its name to «MGM Mirage».work to more than 10 thousand people. In 1998
Wynn spends most of his money on building aHo becomes one of the first living inhabitants of
new institution, which opens in April 2005 on theMacao, in whose honour the local street was
site of «Desert Inn». The new brainchildnamed. But earlier or later everything comes to
of Steve is called «Wynn Las Vegas».an end. Ho's idyll ends in 2000, when Macao
Apart from interests in Vegas, Steve investsauthorities decide to cancel monopoly for gambling
funds into conquering the Asian market. In theindustry. Since 2002 Ho has to share gambling
short-term perspective it is planned to open theindustry with American "sharks" - Wynn and
casino «Wynn Macau». Steve's activityAdelson, who immediately used the chance to
has brought him 2.1 billion dollars, which allowedbecome familiar with Asian market. Presently
him to occupy the 365th position inStanley Ho's fortune is 6.5 billion dollars, he has the
«Forbes» world rating.84th position in the «Forbes» world
Stanley Horating.
The wealthiest representative of gambling