Judge Rules Against Winnie Ho, But Casino Listing Still Delayed

Stanley Ho and his sister Winnie Ho have been at odds for a long time. When Stanley revelaed that he was going public with his Sociedade de Jogos de Macau Holdings company, Winnie quickly launched a legal battle.

She asked the court to stop the company from going public. That challenge was quickly defeated in court and Stanley can now move along with his plans.

There still will be a delay in the plans to bring the company public. The delay will only be for a week, and will give time for potential investors to review new information that came out in court.

"The directors are of the opinion that the judicial review proceedings constitute significant new information which might be material to investors' ability to make an informed assessment of the company," said SJM.

The company is not holding strongly to commitments from investors who have already agreed to buy stock in the company. They are allowing anyone who previously committed to withdraw their requests after certain facts came out in the Ho's legal battle this week.

The company is not planning on listing the stock on July 16th. That would be just six days after the company had originally targeted which was July 16th.



2008-07-09