Sociedade de Jogos de Macau IPO Coming January 15
Here's another piece of news for our readers who are interested in the investment end of Macau's gaming biz. Dr. Stanley Ho's monolithic gaming company, Sodiedade de Jogos de Macau, will be having an initial public stock offering for institutional investors on January 15th, with a full public offering on January 21st. Deutsche Bank will be managing SJM's IPO.
SJM held a monopoly on Macau's casinos from the mid 1960s until gaming concessions were opened up to other companies in 2001. SJM owns 17 casinos in Macau and has plans for at least one more, the beached whale shaped Oceanus project. SJM also recently announced plans to tear down its former flag ship property Hotel Lisboa and replace it with an unnamed property by 2012.