The general phrasing X-er of Ys is generative in English. The form crops up in many contexts to artfully describe a quality that could be explained more plainly. Sometimes the phrasing elevates or mystifies; other times, it pokes fun:
Lover of ladies can be placed in the same group. For instance, it can be used to artfully describe someone who is popular with the ladies and treats them well, without any pejorative sense:
In all of these works, waving, abundant hair that moves belongs to idealized characters, those possessing virtue, purity, elite status, and bravery - [...] the man (or angel) who is a heroic adventurer, a lover of ladies, or a prince. (Edith Snook, "Beautiful Hair, health, and Privilege in Early Modern England," Journal for Early Modern Cultural Studies, Vol. 15, No. 4, Fall 2015, p. 26)
Such a phrase can also be used to suggest licentious promiscuity specifically, but ideally the context would make this usage clear based on context. For instance, this blurb from a comic book preview definitely suggests promiscuity (through the trope of the super spy, not to mention pairing "lover of ladies" with "man-slut"), though whether this is pejorative or merely descriptive may be left to the reader:
Jack Steele: World renowned agent of OLYMPUS, super-spy, debonair, lover of ladies, man-slut. (Multiversity Comics review of The Illegitimates #1, quoting the blurb)
All that said, a palm reading can deliberately omit clarifying the statement, leaving it up to the person receiving the reading whether he is a lover of ladies in a positive or negative way.