Stanley Ho Casino Firm Has Slow Start On First Day Of Listing

Stanley Ho has been in a bitter battle with his sister Winnie over whether he should have been able to list his casino firm publicly. He won that right last week, and on Wednesday the firm was listed.

The first day of trading did not go exactly how Ho had envisioned when he decided to publicly list Sociedade de Jogos de Macau Holdings. The company was expected to come out of the gates selling heavy, but that was not the case.

"You know our path towards the listing has not been smooth. But we have successfully overcome a series of obstacles, turning challenges into opportunities. True gold is not afraid of the fire of the red furnace," said Ho, referencing a Chinese proverb.

Investors have been slow to move towards the company after the legal battle that took place last week between Ho and his sister. He eventually won the court battle, but the bump in the road has made investors think twice.

Ho is trying to raise money so that he can renovate his casinos in Macau. With the influx of Las Vegas operators, it has become increasingly important that he keep up in the crowded casino gambling market.

July 18, 2008
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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