GM Macau's listing will make it the last of Macau's six gambling licensees to go public. However, analysts cautioned the ongoing family feud involving co-owner Pansy Ho, daughter of Macau gaming tycoon Stanley Ho, may cause troubles for the listing, due to a highly public spat with her billionaire father over the controversial share transfer worth billions of dollars.
The Macau venture, owned by MGM Mirage and Pansy Ho, recognized as one of Asia's most successful business women, was originally due for the second half of 2010. Sources had estimated it would raise around us$ 65 million, but analysts said the larger figure was still within range due to stellar gaming growth in the former Portuguese colony.
" I am still worried whether the dispute will affect the listing because if let's say anybody really puts the case into court, it may affect Pansy's credibility so that would be some near term concerns for MGM's valuation as well," said Victor Yip at UOB Kay Hian in Hong Kong.