Casino mogul Stanley Ho and first wife’s Hong Kong mansion listed for sale at $383M

By Nguyen Huong   May 5, 2024 | 02:56 pm PT
The Hong Kong mansion where the late casino tycoon Stanley Ho lived with his first wife Clementina Leitão has been put on the market for HK$3 billion (US$383 million).
Casino magnate Stanley Ho (R) and one of his daughters, Florinda Ho. Photo from Florinda Hos Instagram

Casino magnate Stanley Ho (R) and one of his daughters, Florinda Ho. Photo from Florinda Ho's Instagram

According to Sohu, located in Repulse Bay, the villa was purchased by the casino mogul in 1957 for HK$700,000. Stanley, Leitão, and their children resided there during the formative years of his quest to build the Ho empire.

Since Leitão’s death in 2004, the property has been neglected and has significantly deteriorated.

According to sources, Angela Ho, one of Stanley’s daughters with Leitão, decided to put the mansion up for sale after realizing that the prospects for future property value increases were limited, while selling the property would generate more liquidity and investment opportunities for the family.

It is reported that Angela discussed the sale with other members of the extended Ho family and delegated the responsibility of showing the villa to potential buyers to one of Stanley’s nephews. Photographs of the property showcase its opulent interior which includes a large living room, multiple bedrooms, and a well-equipped entertainment area.

The decision by Angela and the Ho family to sell the mansion has not only drawn public attention but has also fueled speculation about the family’s future. Some observers suggest that the sale is related to a realignment of assets, whereas others believe it aims to settle internal family conflicts and disputes.

Stanley was born in 1921 in Hong Kong into a prominent family. He founded and chaired SJM Holdings, which operates 19 casinos in Macau, including the Grand Lisboa.

He also served in various political capacities and was actively involved in Macau’s economic, cultural, and philanthropic scenes, making substantial contributions to its growth. Over the years, as he built his career and reputation, he engaged in multiple industries including real estate, transportation, hotels, tourism, and gaming.

He had a total of four wives and 17 children, whose disputes over his inheritance became loud and public.

Stanley passed away in 2020. Pansy Ho, a daughter of his with his second wife Lucina Laam, currently leads the Ho family’s ventures. Meanwhile, Daisy, another of his daughters with Laam, serves as the chairperson of SJM Holdings, the largest entity within the family’s business empire, which is involved in the management, operation, and development of casinos and integrated entertainment resorts in Macau.

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