Reported by Yahoo News on Gambling:

Stanley Ho, born in 1921 into one of Hong Kong's most powerful
families, is taking his gambling flagship firm Sociedade de Jogos de
Macau Holdings (SJM) public Thursday as he battles Las Vegas giants
that have shaken up the territory's gambling industry. Mr. Ho, the 86
years old tycoon, held a monopoly on casinos in Macau for decades
prior to this. Macau's biggest casino operator lost its 4-decade long
monopoly in 2002.

Once the only game in town, Mr. Ho's iconic casinos are now just one
small part of a multi-billion-dollar gaming industry in the southern
Chinese city of Macau. Macau topped the Las Vegas Strip in revenues
last year.

Stanley Ho is now offering shares in SJM, the company that made him
one of Asia's richest men and which is still believed to be Macau's
biggest casino operator despite losing its foothold in the monopoly.

An SJM source said that the company is looking to raise more than five
billion Hong Kong dollars (655 million US) for the shares, which go on
subscription offer from June 26 to July 2.

The move has reportedly been repeatedly delayed due to a bitter fight
for control with Ho's estranged sister Winnie. But the tycoon has
assured that this week his plans would go ahead saying that his
company will launch the initial public offering according to plan.

Gambling industry analysts are saying that Ho's taking SJM public will
bring greater transparency to the former Portuguese colony. The colony
is saddled with a murky reputation but is presently seen as a premium
destination for gamblers from across Asia and afar.

Mr. Ho moved had carved out his fortune by cornering the Macau market
on gambling when he moved there in his 20s. Macau ended the monopoly
six years ago in 2002 and permitted entry to foreign casino companies
including Las Vegas Sands and Wynn Resorts. A swift development of a
reclaimed parcel of land called the Cotai Strip, had transformed the
quiet territory into a gambling and nightlife hotspot.

In 2007, Macau's casinos took in more than 10.3 billion dollars,
topping the Las Vegas Strip for the first time with Stanley Ho
insistent on remaining a major player. Mr. Ho opened the Grand Lisboa
Hotel and Casino in 2007 last year. The Grand Lisbao is a
500-million-dollar, 430-room golden colored tower that dominates
Macau's skyline.

Gambling industry analysts say that taking SJM public would give it
more access to capital markets in order to compete with Macau's listed
international competitors. Ho intends to turn Macau into a more
popular tourism destination thereby bringing in more revenue when
people visit more often, stay much longer and of course, spend more
money. SJM intends to corner the gambling market by expanding its
tourism base for potential customers all across Asia.