Casino Gambling: Court gives SJM IPO the go-ahead

A Hong Kong court refused to grant Winnie Ho, sister of casino gambling tycoon Stanley Ho, an injunction to stop the listing of Sociedade de Jogos de Macau (SJM). The Macau gambling tycoon praised the court's decision and assured future investors that he plans to go ahead with the IPO of the gambling company next week (July 16th). The initial public offering for SJM was originally scheduled for Thursday, but had to be postponed after Winnie Ho filed papers with the court to stop the IPO. "He [Stanley Ho] said he's very happy to have this decision and support of all regulators," SJM's chief executive, Ambrose So, said during a press conference. The legal challenge submitted by Winnie Ho was the latest of a long streak dating back to 2001, when the gambling tycoon siblings fell apart.

Published on 07/09/2008