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SJM, MGM to Announce Macau Deal

9 Feb 2004

MACAU – As reported by the Ponto Final: " SJM's MGM casino sub-concession will invest 4.4 billion patacas (US$550 million)in Macau, says informed source

"Macau veteran casino mogul Stanley Ho Hung-sun's casino company, Sociedade de Jogos de Macau (SJM), and the Las Vegas-based global gaming giant MGM-Mirage have basically concluded their negotiations and are likely to announce their gaming sub-concession deal as early as this week, an informed source said in Macau on Monday. Asking not to be named, the source said that the negotiations had "only and exclusively" been conducted by Stanley Ho's heir apparent, Pansy Ho Chiu-king, on behalf of SJM, adding that a company associated with Hong Kong-based Shun Tak Holdings would form a joint venture with MGM-Mirage for the purpose of becoming a casino-operating sub-concession of SJM.

"…The source also said that the MGM-Mirage joint venture formed by Pansy Ho would run its casino operations in Macau 'completely separate' from those by her 82-year old father's company, SJM…"

 
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