SJM, which operates 18 of Macau’s 28 casinos, has been trying to list it’s IPO with aims to raise US$1 billion by selling a 25 percent stake. SJM, which once had a monopoly on Macau gambling, accounted for 42 percent of the territory’s gaming revenue at the end of last year. This percentage is expected to drop to around 20 percent next year, apparently during the first two weeks of 2008 SJM’s share has reportedly dropped to 31 percent. On top of this profit for 2007 is expected to have fallen about 50 percent to US$156 million, down from US$312.5 million a year earlier, this surely must hurt them!
So where does this leave Dr Stanley Ho’s empire, well SJM/STDM has plans to over the next three years to spend more than US$1.4 billion on six new projects. This investment compared to what Galaxy, Melco PBL, Las Vegas Sands and Wynn are spending on their casinos is really peanuts! Please tell me more! »
Related Posts
- Melco stock falls on Stanley Ho's comments
Well it is interesting to note that Las Vegas Sands, Wynn Resorts and PBL stock hardly moved. Stanley Ho has... - Dr Stanley Ho Wants A Sydney Casino
Macau casino mogul Stanley Ho has become one of the biggest donors behind Australia's Labor Party, sparking talk of a... - Casino Companies Are Betting Big on Macau
When America's largest casino companies looked at the world's emerging gambling scene, it wasn't Pennsylvania where they placed their biggest...
- Knees knocking in the UK as budget day approaches
You may love him or you may hate him, but one thing is for sure, not many UK citizens would like to be in Alistair... - New Loan Funded — Finance for an ESTABLISHED Business — $25,000 at 24% — B Credit — DTI 1392557%
A new loan funded (Finance for an ESTABLISHED Business â $25,000 at 24%). I participated via a manual bid the loan was Autofunding. The borrower had B credit... - Tell me, is this psycho or smart?
My bf and I have been together over 4 years now, we have discuss marriage often, and agree we will definitley get married. We have...
