CASINO

MGM China looking at Taiwan as Pansy gains share from Stanley

TAGs: MGM China, Pansy Ho, taiwan

Pansy HoMGM China is the latest company with more than a passing interest in adding the Made in Taiwan tag to their global business. Pansy Ho’s company is echoing the same sentiments made by Las Vegas Sands chief Sheldon Adelson when he talked up expanding into the Pacific island.

According to Taiwan news agency CNA, she said, “the likelihood of investing in Taiwan is pretty high because now is a good time.”

In terms of what part of the market MGM intends to target, Ho mused, “The investment plans will target hotels, as well as travel- and service-related businesses.”

Taiwan hasn’t disguised the fact that they want to develop a land-based casino industry and are even looking at the example set by Singapore as the one to follow. With Saipan just yesterday rumored to be looking at developing casinos, it certainly doesn’t look like the Asian market is going to hit the sack any time soon.

Sticking with the Ho’s, Stanley had sold a stake in one of his firms to the aforementioned flower. Stanley’s daughter bought 36.3million shares in his property and transport firm Shun Tak Holdings. It means that the MD of Shun Tak, Pansy Ho, now owns 12.67% of the firm as opposed to the 11% she owned before.

Shun Tak is responsible for much of the burgeoning ferry and helicopter connections between Macau and Hong Kong. This is in addition to bus services between the enclave and Mainland China. Stanley had already reduced his stake in Shun Tak from 20.3% to 8.7% on Monday and those share were transferred to a firm controlled by his children. The ailing tycoon’s grip on power really does seem to be slipping away.

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