here is a definition of this word as a slang term - http://www.urbandictionary.com/define.php?term=player
A male who is skilled at manipulating ("playing") others, and especially at seducing women by pretending to care about them, when in reality they are only interested in sex. Possibly derived from the phrases "play him for a fool", or "play him like a violin". The term was popularized by hip-hop culture, but was commonly recognized among urban American blacks by the 1970s.
A certain class of low-rent, slack-jawed f**kups has decided that backstabbing and misogyny are totally radical, so the word is sometimes used as a compliment or term of endearment between male friends, as in the greeting "what's up, player?".
So, your friend seems as correct, however some interpretations point (see the link above) that the term may refer to a women in some limited maner.
The word ho slang meaning is Prostitute, Whore, Hooker, Tramp, Slut. It seems as originated from shorthand for the word whore. - http://www.urbandictionary.com/define.php?term=ho
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