Having heard about the next mega-successful businessman, we usually try to find out who his parents are. If we are talking about the offspring of a big politician or a millionaire, we nod meaningfully and sigh heavily. Well, anyone can succeed with such support and start-up capital.
The secret of Lawrence Ho Yau Lung's prosperity seems to be obvious. The future billionaire was born in the family of the "gambling king" in Macau and Hong Kong Stanley Ho Hung Sun. Per fas aut nefas, his legendary father created a huge monopoly. The son only had to master his dad's experience and take possession of the family business from his ninety-year-old father.
But is the life of the owner and CEO of Melco Crown Entertainment so simple and unshadowed?
Childhood and Education
Lawrence was born in 1976 in Hong Kong. He is the eldest son of Stanley Ho and his second wife Lucina Laam King Ying. The total number of Ho's children from four women reaches seventeen.
In his childhood Lawrence moved to Canada, where in 1999 he graduated from the University of Toronto obtaining a bachelor's degree in commerce.
In 2009, Ho obtained his PhD degree in business administration from the Edinburgh Napier University (Scotland).
Successful Beginning of the Career
The young years of Lawrence were spent in Toronto, where he worked as an investment banker after graduation.
In 2001, Ho acquired a loss-making company called Melco International Development Limited. He gave it a new name. Since that time, Melco Crown Entertainment has been focusing on gambling and entertainment-related activities.
Ho's partner was the Australian billionaire James Packer, owner of the gambling license in Macauo. They began with the acquisition of the Taipa Macau Hotel Casino, which was turned by them into a five-star Altira Macau complex.
In 2009, Melco opened City of Dreams Macau, which became one of the most popular casinos in the region.
In February 2015, the Lawrence Ho's and James Packer's company launched the City of Dreams Manila complex in the Philippines, expanding its scope of activity to other countries.
On October 27, 2015, the official opening of the Studio City resort complex took place in Cotai, Macau. Its construction cost three billion and two hundred million dollars.
In 2016, Packer sold Ho his share in Melco for $1.16 billion. According to Lawrence, they did not stop being good friends:
James Packer and I are still good friends, despite the fact that our views on China and the world were different at that time. I wanted to double our assets, and he wanted to focus on his domestic Australian assets.
The Financial Times
According to Lawrence, the company will continue to develop in different countries. When his father retired due to his age, Ho Jr. took control over the corporation and steadily increased its fortune.
His Activities in Russia
When gambling zones were established in the Russian Federation, Lawrence Ho was among the first foreign investors in the development of the gambling industry in Russia. Choosing based on the territorial proximity to China, he preferred Primorye.
In 2014, Melco began building a new complex. As early as in November 2015, the company opened Tigre de Cristal Casino, which was extremely popular among gamblers from the Russian Federation and the People's Republic of China.
Experts believe that the geographical location of the gambling zone in Primorye was not the only factor that attracted the famous billionaire. He was probably tampered with relatively low tax rates.
Initially, Lawrence Ho had 65% of shares in First Gambling Company of the East LLC, which received a license to organize casino activities and other types of gambling in the Russian Federation. Later, Melco acquired 14% of shares from Oleg Drozdov, who had problems with the law, for more than twenty million dollars.
His Life beyond Gambling
Like any modern businessman, Lawrence Ho is not limited to the activities of his company. The circle of his interests is much wider than the gambling industry.
He takes an active part in the Chinese People's Political Consultative Conference and often speaks at major conferences in Mainland China, Macau, and Hong Kong. Who knows, maybe in the future he will have a successful political career.
Lawrence Ho was repeatedly recognized as the best leader, businessman and one of the most influential people in the Pacific region.
Ho avoids questions about his personal life. It has been known that Lawrence is married to Sharen Lo Shau Yan, granddaughter of Kwee Seong Lo, who is the founder of the Vitasoy trademark.
Ho's daughter was born in September 2006.
Interesting Facts about Lawrence Ho.
The following information and statements of the protagonist of our article will supplement his description.
In the Asian gambling industry his nicknames are Game Changer and Energizer Bunny.
In 2017, the fortune of Lawrence reached approximately from one and a half to three billion dollars.
Ho was a producer of the Martin Scorsese's movie The Audition, starring Leonardo DiCaprio, Robert De Niro, and Brad Pitt. The movie was filmed in the Studio-City Casino.
And now we want to show our readers some Ho's quotations:
About the date of casino opening:
Although we are not guided by Feng shui, we still believe in it, so that the date is definitely favorable.
Macau Daily Times (MDT)
About Prospects of Macau without Gambling:
We have always imagined innovative, complex resorts with stunning non-gambling kinds of entertainment, but at the same time I do not want people to think: "These guys believe that it is possible to earn a lot of money without gambling." This is not true. The truth is that without gambling you can earn money neither now nor in the future.
About Teen Idols:
I'm a child of 1980s, so my idols were Stallone's Rocky and Rambo.
To be sure, Ho Jr. belongs to the "golden youth", but he can hardly be called silver spooner. Well, he had excellent conditions for the beginning of his career, but not all can use them to succeed.
Lawrence acquired a loss-making company and in a few years turned it into one of the world leaders in the gambling industry, becoming a billionaire and an incredibly powerful businessman. He does not rest on laurels and continues to develop the family business.
The relevant information about Laurence Ho's activities is often published on the website Casinoz in the section News, which is another proof of his extraordinary work ethic and restlessness.