Stanley Ho Gets Go Ahead From Judge To List Casino Company

Stanley Ho has built one of the strongest gambling empires in the world. He has basically created the gambling capital of the world, Macau, and is now bringing his empire to the publicly traded stock market.

That was his intention, at least, until his sister Winnie decided she was going to try and stop the company from going public. She filed a lawsuit to try and stop the company from going public.

On Tuesday, Winnie Ho was defeated in court paving the way for Stanley to move forward with the public listing. The judge ruled in his favor and Ho will now most likely have the company listed by the end of the week.

"The gambling ordinance generally prohibits gambling in Hong Kong. But there is no prohibition of gambling outside Hong Kong," said Geoffrey Ma, ruling in the appeal from Winnie Ho.

Reports have surfaced that Ho's company, SJM, has received commitments of $500 million as soon as it is listed. That could happen as early as today. Market conditions have stalled the company from being listed, but after Tuesday's ruling it appears it is full steam ahead for Ho.

Ho built his empire in Macau before it was the gambling mecca that it is today. He is looking to publicly list the company so that he can take the money and make improvements to his casinos. He is now competing with some of Las Vegas' heavy hitters, and needs the extra money to help his casinos compete.



2008-07-15