Business reporter, BBC News
Stanley Ho made his fortune from Macau’s lucrative casino trade but the billionaire has struggled to adapt to the tiny territory’s changing fortunes.
Mr Ho’s firm, Sociedade de Jogos de Macau (SJM), which had a monopoly on gambling for four decades until 2002, has lost out to slicker, foreign rivals who are attempting to transform Macau into Asia’s Las Vegas.
SJM’s share of gambling revenue in the former Portuguese territory, which surpassed the Las Vegas strip in 2006, declined to 40% in 2007 from 75% in 2005, a year after the first foreign company set up shop.
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