Tributes have poured in for Macao casino patriarch Stanley Ho Hung-sun, who died in Hong Kong on Tuesday at the age of 98.

The renowned businessman was well-respected for his achievements in many areas, including being one of the first entrepreneurs to invest in the Chinese mainland when the nation embarked on reform and opening-up in the 1970s, his generosity to charities and donating money to build schools.

"Although we knew this day would finally come, it does not soothe our indescribable sorrow," said Pansy Ho Chiu-king, one of Ho's children. She met the media alongside family members at Hong Kong Sanatorium & Hospital on Tuesday.

In a statement on behalf of Ho's family, Shun Tak Holdings, the Hong Kong-based conglomerate Ho built, said Ho had passed important values to the family.

"He taught us … to give back to society, to appreciate our heritage and, most of all, to be patriotic to our country," the statement read.

Pansy Ho, group executive chairman and managing director of Shun Tak, said her father had attached great importance to his children's education and reminded them that "everything gained from society must be used for society".

She said the family would go above and beyond to continue his legacy and fulfill their social responsibilities.

Pansy Ho also said her father, who had many businesses and connections in both Macao and Hong Kong, had always "loved the people of Hong Kong" and had earned a great reputation and high social status in the city.