Macau casino kingpin Stanley Ho has added another jewel to his crown.
The 87-year-old Hong Kong billionaire acquired the 416-room Mandarin Oriental in Macau for $205 million. Mandarin Oriental will manage the hotel for two years.
Ho once had the monopoly on gaming in the Chinese gaming enclave before mainland China took over authority of the special administrative region at the end of 1999. International law enforcement authorities have long alleged that Ho’s casinos were controlled by Chinese organized crime triads.
Ho continues to control more than a dozen small and large casinos in Macau. His most visible holdings are the Hotel Lisboa and Grand Lisboa hotel-casinos.