Stanley Ho's Macau's casino firm struggles in Hong Kong trading

[Top Dog Seeker]

Shares in the casino firm of Macau tycoon Stanley Ho finally began
trading in Hong Kong on Wednesday, but a string of legal issues and a
weak overall market kept many investors st bay.

The initial public offering of Sociedade de Jogos de Macau Holdings
(SJM) came after months of delay and against the background of an epic
legal battle between Ho and his estranged sister Winnie.

Stanley Ho acknowledged the problems but said he was delighted the
firm had finally made it to the market.

Ho is currently struggling with the influx of foreign-owned casinos
such as Las Vegas Sands and Wynn. Those casinos have torn into Ho's
overall market share and the glitz and gleam of the US casinos far
outdo Ho's average looking gambling dens.

Ho is reputed to have made his first fortune smuggling luxury goods
across the Chinese border from Macau during World War II, before
securing the only gaming licence in the then-Portuguese colony in
1962. He also struggles with rumours that he is connected to organised
crime though no charges have been evcer brought against him. The
ongoing struggles with his sister, Winnie have since not helped his
public image; Winnie having brought at least 30 lawsuits against Ho
both in Macau and in Hong Kong.