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Macau's gambling icon going public25 June 2008HONG KONG -- As reported by Agence France Presse: "Stanley Ho, who for decades held a monopoly on casinos in Macau, is taking his flagship firm public Thursday as he battles the Las Vegas giants that have shaken up the territory's gambling industry. "...Now Ho is offering shares in Sociedade de Jogos de Macau Holdings (SJM), the company that made him one of Asia's richest men -- and that is believed to still be Macau's biggest casino operator despite losing the monopoly in 2002. "A company source who declined to be named said SJM 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. "...Analysts say that taking SJM public will bring greater transparency to the former Portuguese colony, long saddled with a murky reputation..." |