Tag Archives: Yin Hon

“The god of gamblingului” in Macau: Yin Hon The mentor of worldwide renowned Asian gamblers

-by Oana Mihalache

Even though the casino market in Macau seems to be one that is extremely diversified, as more and more operators announces a new business entering the market, this phenomenon is in fact a very recent one. Until the beginning of the years 2000, the monopoly over the gambling industry was owned by three names that are very popular within the Asian gambling market: Yin Hon, Stanley Ho and Henry Fok, a renowned tycoon from Hong Kong.

A businessman, a professional gambler and even more than that, considered a real mentor for Stanley Ho – these are the words that can describe Yin Hon in a brief way. In the 60s he helped found, together with a few business partners – afaceri – Teddy Yin, Stanley Ho and Henry Fok – the company of Sociedade de Turismo e Diversões de Macau (STDM), which soon came to own the monopoly over the gambling industry in Macau. Starting with the 1934, this monopoly was owned by the Tai Hing company. As soon as Yin Hon took over the lead in the gambling field of Macau, the Asian continent began to rival the biggest centers dedicated to this area. In 1963, the company run by Yin and his partners managed to open its first casino – Macau Palace, which appears in the James Bond series The Man with a Golden Gun. Unfortunately, this casino was closed in 2007.

The man of innovations on the Macau gambling market

After only two decades since the founding of STDM, Yin Ho left his business partners and started his own entrepreneurial dventurea – he got a license for operating Harness Racing. Initially this business proved to be a failure and after only a few years Hon was forced to retire. Meanwhile, the same STDM company took over this business and in 2012 Harness Racing brought a profit of no less than 21 million euros, so we can say that Yin Hon was behind this novelty that entered the Macau gambling industry. Even if in 2002 the government in Macau issued licenses for other gambling operators as well, thus broking the monopoly held by STDM, nearly half of the casinos operating in Macau are owned by Stanley Ho.

Before this huge brand-name for the gambling field in the region, Stanley Ho, it was Yin Hon that launched the destination of Macau as a landmark for the Asian gambling market. The most concludent proof for this is the fact that he helped laid the foundation not only for the most well-known company on the market, but also for one of the most renowned casinos in Macau – Casino Lisboa. The building and hotel tower of 12 floors were built in 1970 by the four tycoons that opened STDM previously.

 

 

Why is the name of Yin Hon a landmark for Macau gambling?

First of all, he was the one who initiated Stanley Ho, his good friend, in the gambling industry. Secondly, the STDM company, that he founded together with his partnes, played a crucial role in attracting players towards this part of China. Also, he brought an important contribution for facilitating access on the peninsula – he made great investments in airline companies. As for the gambling part, the company was wise in adjusting its offer – in the 70s they launched western-type slots, and a decade later they brought Pachinko games on the market, the most popular game in Japan.  After these novelties on the market, in the 1990s the tourists from Thailand, Korea and India were already familiar with the potential of the administrative area of Macau and shortly after, the popularity of this area exploded, and it now attracts tourists from around the world.

When disciples honor their mentors

Stanley Ho was basically launched into his career by Yin Hon, did not forgot about the one who represented a launching pad for him. In 1997, when the latter died, Ho held a speech during which he commemorated all the moments they went through together in the gambling industry of the (then) Portuguese enclave of the 1960s. Yin Hon died after a heart attack, which occurred when he was reading an article about horseracing – one of his lifetime passions. He left behind five children, but the heritage for the Asian gambling culture and even for the world of gambling cannot be quantified – the brand of Stanley Ho, building Macau as a gambling landmark, Casino Lisboa and the list does not end here.