Jun
23
SJM IPO looks to be a go
Filed Under Macau, Macao, SJM | Leave a Comment
Recent press reports are saying that Stanley Ho’s SJM launched the marketing of its IPO today. The company hopes to raise up to US$654 with the stock planned to start trading July 10th. This has been a long time in coming so lets hope it gets done. Im sure we would all love to have another public company to follow.
Jun
13
SJM IPO Part II…or is it Part III?
Filed Under Macau, Macao, SJM | Leave a Comment
To be honest, ive lost track of how many times SJM has been rumored to try and pull off an IPO. With the recent restrictions in Macau making life easier for the current casinos and putting a halt to future competition, maybe things will go smoother this go around. Although, if you take a look at the recent stock Read more
Mar
1
SJM will launch its IPO sooner or later - right? This is worth checking out to learn more about this private company. Warning - its 10 minutes long. Read more
Feb
4
Ponte 16 casino complex opens in Macau
Filed Under Macau, Macao, SJM, Sofitel Macau at Ponte 16 | 3 Comments
From Xinhua News Agency
The five-star Ponte 16 casino resort opened on Friday, bringing the total number of casinos in Macao to 29, which also saw local gaming magnate Stanley Ho rally its strength to fight the flooding-in Las Vegas gaming companies for market share.
The integrated resort was jointly developed by SJM (Sociedade de Jogos de Macao) S.A., owned by local gaming magnate Stanley Ho, and Macao Success Limited. It features 105 gaming tables and 300 slot machines, and a hotel run by the French luxury Read more
Jan
15
SJM IPO pushed back
Filed Under Macau, Macao, Wall Street, SJM | Leave a Comment
Reuters reports:
Macau tycoon Stanley Ho’s casino flagship, which had hoped to begin marketing a US$1 billion IPO on Tuesday, has pushed back the launch to address a regulator’s query, people briefed on the matter said.
No further details were available on when Sociedade de Jogos de Macau Holdings (SJM) would begin its investor roadshow. The sources said the company had received a request from Hong Kong’s Securities and Futures Commission for a procedural clarification.
Jan
13
Stanley Ho’s SJM IPO
Filed Under Macau, Cotai, Wall Street, SJM | 3 Comments
I dont know about you, but i’m pretty excited. After all the speculation on how Stanley Ho’s casino empire is doing, we’re finally going to find out. SJM has announced its IPO, which will provide all of us a look into how SJM has fared over the past several years post the new Macau competition.
The deal, which is expected to price before February 7th, will offer up to US$1 billion of equity to the public, or about 25% of its outstanding shares. So Ho will still be the majority shareholder and be the one running the show. Read more
Jan
7
Goodbye Hotel Lisboa
Filed Under Macau, Macao, SJM, Hotel Lisboa | 3 Comments
Looks like the Cotai Strip® is bringing even the biggest and the best of the old-guard to its knees. BlogMacau.info has two informative posts on the demise of the Hotel Lisboa: Read more
Dec
1
SJM IPO
Filed Under Macau, Cotai, Wall Street, SJM | Leave a Comment
Dr. Stanley Ho is making another attempt at an IPO for his casino company SJM in hope to raise about US$1 billion. Almost two years ago, Dr. Ho attempted do IPO a stake in his company for about twice that amount. The Wall Street Journal reports:
“When SJM, Macau’s largest casino operator in terms of gambling revenue, unveiled its IPO plan in Read more
Jun
6
Summary of Cotai casino companies
Filed Under Macao, Cotai, Las Vegas Sands, Melco PBL, Wall Street, COMPANIES, Wynn, Galaxy, SJM, MGM & Pansy Ho | Leave a Comment
Stumbled across this blog entry that I thought you guys could find useful. A nice analysis of the companies involved in developing the Cotai casinos.
Here it is: CNAnalyst.com
Feb
8
The dealers always win in Macau
Filed Under Macau, Cotai, Las Vegas Sands, OTHER, MACAU PENINSULA CASINOS, SJM, Sands Macao | 1 Comment
Ho hires Adelson’s duds
The Australian recently reported that Sheldon Adelson’s Las Vegas Sands fired 160 table dealers last November who were not up to the Sands Macao’s high standards. Did the dealer’s need to worry about changing careers or waiting in the unemployment line? Of course not! This is Macau, where the only people who are allowed to work as table dealers are Macanese residents.
So Stanley Ho invited the fired employees to apply for jobs at his SJM casinos, and used the firing as a golden public relations opportunity:
“It is our duty of care to the Macao community to employ quality, talented local Macao residents and to nurture them for a long and successful career with our company.”
SJM ended up putting its patacas where its mouth is though, and hired 110 of the former Sands Macao employees.
I’m guessing this is probably just the beginning. The new Macau and Cotai casinos are starting to ramp up their hiring in preparation for the thousands of dealer jobs that will be needed to fill the dozens of casinos that are expected to open over the next several years. For example, the Venetian Macao will open this summer and will have 700 tables just by itself. One unnamed casino executive was quoted as saying: (*more below*)
“If all the projects open, are there enough Macanese to man the tables? No, there are not. We need to discuss how we are going to staff this thing with the Government.”
The pressure to hire quality employees (or unqualified in SJM’s case) is not limited to croupiers however. With a population of only 500,000, Macau has turned to hiring non-residents to fill management and support jobs. The process to hire a non-resident can take time though, with the proper approvals taking up to six months to be granted.
There are also anecdotal tales of local Macau college students dropping out of school to take the high paying table dealer jobs. Although this could look like a good short term win-win for the casinos and the students, the brain drain could have a longer term adverse impact on Macau’s economy.
After reading all of this, you’re probably wondering the same thing I’m wondering…where will those 50 dealers who couldn’t make the cut at Sands and SJM end up working? Because you know they’ll end up somewhere.
Jan
3
Macau & Cotai stabs, jabs, and family fueds
Filed Under Macau, Cotai, Las Vegas Sands, Wynn, Galaxy, SJM | Leave a Comment
Cotai and Macau quote galore!
There is a great, detailed Bloomberg article today about Macau. There is not much in the way of new news, but it covers a broad range of Macau and Cotai subjects. Plus, what would a Macau article be without stabs, jabs, bickering, and family fueds?
Money manager: “In 10 years, Macau will resemble Vegas on steroids”
Adelson: “Forget about the dating services. You can’t make a better match than bringing casinos to Asians.”…”I find it startling. Apparently he hasn’t got to the point where he realizes there’s competition.”…“It’s just like a person in the desert needs water. These people need entertainment.”
Galaxy CEO Carter: “Adelson and Wynn are visionaries. In Macau, I’m not sure the timing of their vision is correct.”
Stanley Ho: “Unlike the others, which are replicas of their Vegas models, our Grand Lisboa is unique and original”
Winnie Ho: “We don’t need all these lawyers if he plays by the rules and the law and pays me back the money he owes me. But that’s just Stanley, always thinking he can just walk over anybody.”
Wynn: “I’ll be building here for the next 10 years”
Book author: “Stanley Ho’s kingdom is unraveling. Within the family it looks like it’s every man for himself.”