Inside Asian Gaming

January 2011 | INSIDE ASIAN GAMING 45 Briefs in favour of his fourth wife, Angela Leong, who took up the position of managing director of the company. Ms Leong, who was also appointed recently as managing director of Hong Kong-listed SJM Holdings, said this was “normal procedure” due to 89-year-old Stanley Ho’s continuing recovery from brain surgery after an accident at home in the middle of 2009 led to a lengthy hospital stay. “It’s inconvenient for him to frequently travel to Macau and handle company matters,” Ms Leong was quoted by The Macau Post Daily as saying. “That is why I was appointed.” In December, Dr Ho transferred his entire direct 7% stake in SJM Holdings—worth nearly HK$5 billion—to Ms Leong. The listed firm is still 56% owned by unlisted Sociedade de Turismo e Diversoes de Macau (STDM), in which Dr Ho retains a controlling 33.7% stake. According to a report in the South China Morning Post , Ms Leong is a director of SJM, SJM Holdings and STDM. In her private capacity, she announced plans in November to develop a 10.4 billion pataca (US$1.3 billion) non-gaming resort and theme park on Macau’s Cotai strip that may co-operate with SJM Holdings, which is seeking to develop a casino on an adjacent plot. She is also a Macau legislator. NewWorld Development chairman Cheng Yu-tung, whose family controls a 10% stake in STDM, remains chairman of SJM and STDM. Weeks before handing the SJM Holdings shares to Ms Leong, Dr Ho transferred an 11.55% stake in property and shipping firm Shun Tak Holdings—worth over HK$1 billion—to Hanika Realty Co. Hanika is controlled by Dr Ho’s second wife, Lucina Laam King-ying, and five of their children (Pansy, Daisy, Maisy, Josie and Lawrence). The transfer made Hanika Shun Tak’s biggest single shareholder with an 18.4% stake. “Stanley Ho is dividing up his various listed companies among family members,” Deutsche Bank gaming analyst Karen Tang wrote last month in a research note. “We think this should lower uncertainties related to his succession plan,” she wrote. IGT installs 200 games and sbX™ Floor Manager at Genting’s Malaysian casinos International Game Technology (IGT), a leading supplier of slot machines and network systems, announced it has installed an extensive mix of 200 gaming machines and sbX™ Floor Manager at the Genting Group’s Malaysian-based casinos. “We are excited to continue our successful relationship with Genting Group,” said John Gomes, managing director of IGT Asia. “With this mix of the latest IGT games and our cutting-edge sbX™ Experience Management System, Genting Group are able to offer the latest gaming experiences to their customers and differentiate themselves from their competition.” The new IGT games were installed at Genting Starworld and Casino de Genting—the two casinos at ResortsWorld Genting (RWG) in Malaysia. The new games include many well known standalone video slot games, such as 100 Wolves®, Crown of Egypt™, Desert Spirit®, Diamond Queen™, Eastern Sun™, Lil Lady®, Mayan Riches® and Unicorn Magic™, to name a few. Complementing these stand- alone video slot games are the renowned Wheel of Fortune® Super Spin™ Video Slots as well as Star Wars™: The Empire Strikes Back™ Video Slots on the Trimline AVP® model. The award-winning sbX™ Floor Manager was also installed at RWG.The product is GSA compliant and provides RWGwith unlimited access to IGT’s expansive game library. sbX™ Floor Manager allows the casino to change themes quickly, offer the newest game content and reduce downtime often associated with replacing games on the casino floor. AERL aims to double its Macau rooms VIP gaming promoter Asia Entertainment & Resources Ltd. (AERL) is aiming to double the number of rooms it operates in Macau, the company’s chairman Man Pou Lam said in an interview published in Forbes China magazine. AERL currently runs three VIP rooms in local casinos, mainly focusedonhigh-stakes baccarat: one at The Venetian Macao, one at MGM Macau and another at StarWorld. AERL reported a two- fold growth of its rolling chip turnover last year, in comparison with 2009. Macau gaming revenue up 58% in 2010 Gross gaming revenue in Macau soared 58% year on year in 2010 to a record 188.34 billion patacas (US$23.51 billion), bolstered by a flood of gamblers from mainland China on continued strength in the Chinese economy. December gambling revenue jumped 66.4% to a record monthly high of 18.883 billion patacas, the Macau Gaming Inspection and Coordination Bureau said on its website. According to a Reuters report, the stellar growth in revenue in 2010 contrasts with the 10% growth seen in 2009—even without the relaxation of visa restrictions on mainland Chinese visitors and a recent reminder from China’s premier Wen Jiabao for improved regulation and diversification of Macau’s economy away from gambling. Stanley Ho MGMMacau Malaysia’s Genting – City of Entertainment