Amborse So Shu-fai, SJM Holdings chief executive, yesterday said that SJM will comprehensively analyse the operational cost and various cost reduction measures in order to try its best to maintain the interest of its staffers. According to the Chinese language news TDM, the chief executive of SJM Holdings told the media that they “hope to reduce the influence to staffers to its least.”

The redevelopment of the Old Lisboa could turn away from the traditional gaming tables, with plans that the 12 billion Hong Kong dollar project might become residential units. Frank McFadden, president of SJM's joint ventures and business developments, said in an interview with South China Morning Post yesterday that one third of the project could become residential unit towers, sales of which could net the company around five to seven billion Hong Kong dollars.

Stanley Ho's estranged sister, Winnie, was yesterday seeking to appeal the court decision of the listing of SJM Holdings on the Hong Kong Stock Exchange. According to a Reuters report, Winnie Ho had filed a notice of motion in the Court of Appeal informing it of her intention to take her case to the Court of Final Appeal. She is contesting the decision by the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange to allow SJM's listing to proceed.

Stanley Ho, managing director of Sociedade de Jogos de Macau (SJM) yesterday inspected the first phase of design proposals for the redevelopment of the site of the Hotel and Casino Lisboa. Ambrose So, director of SJM, Louis Ng, director and chief operating officer of SJM, Angela Leong, director of SJM, and Frank McFadden, president of jint ventures and business developments of SJM, also joined Ho in the inspection.

Macao tycoon Stanley Ho’s gaming flagship finally made its stock market debut on Wednesday, dipping below its offering price in Hong Kong trade after overcoming a last-minute legal challenge. The debut for SJM Holdings, which raised USD 494 million in a scaled-back share sale amid a poor market, comes as the casino operator struggles to compete with aggressive US operators led by Las Vegas Sands and Wynn Resorts.

Hong Kong (Reuters) - Macau's SJM Holdings, the casino flagship of tycoon Stanley Ho, overcame a last-minute hurdle to listing on the Hong Kong stock market when a court ruled on Wednesday against a case disputing the deal. Stanley Ho's sister, Winnie Ho, had sought a judicial review in Hong Kong's high court of regulatory decisions allowing the scaled-back USD 494 million initial public offering of Sociedade de Jogos de Macau (SJM) Holdings Ltd to proceed.

Last week's announced slowing of casino development and fixing of commission rates for junket operators was welcomed by the director of Sociedade de Jogos de Macau (SJM), Stanley Ho Hung-sun yesterday as necessary to stop the “cut throat” competition between operators. “I think it is excellent news for Macau in general. It is high time to take care of the gaming sections problems,” he said before presenting the trophy for the Macau Derby 2008 at the Macau Jockey Club yesterday, a race sponsored by SJM.

Hong Kong - Sociedade de Jogos de Macau, Macau's dominant gaming group, controlled by casino tycoon Stanley Ho, kicked off an informal road show in Hong Kong this week, getting set for its initial public offering, aiming to raise up to USD 1 billion. SJM plans to issue 1.25 billion new shares, accounting for about 25% of its enlarged share capital. Among the new shares, 85% will be sold to institutional investors, and 5% will be reserved for employees, leaving 10% available to the general public.