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Sociedade de Turismo e Diversões de Macau

October 21, 2023

The Sociedade de Turismo e Diversões de Macau, SA (abbreviated as STDM; Chinese: 澳門旅遊娛樂股份有限公司) is a company in Macau owned by the family of Stanley Ho. Historically, it held a monopoly to Macau's gambling industry as the only licensee for casinos. In 2002, the government of Macau began issuing more licenses and the monopoly was broken. Still, of the 41 operating casinos in Macau, 22 are owned by STDM, as of 2019.

Sociedade de Turismo e Diversões de Macau, SA
TypePublic
IndustryHospitality, Tourism
Founded1962; 61 years ago (1962)
FounderStanley Ho
HeadquartersMacau
Area served
Global
ProductsGambling, Hotels, Entertainment, Casinos, Resorts
OwnerStanley Ho
Websitewww.sjmholdings.com/en
Sociedade de Turismo e Diversões de Macau, SA
Chinese name
Traditional Chinese澳門旅遊娛樂股份有限公司
Simplified Chinese澳门旅游娱乐股份有限公司
Literal meaningTourism and Entertainment Company of Macau Limited
Transcriptions
Standard Mandarin
Hanyu PinyinÀomén Lǚ​yóu Yúlè Gǔ​fènyǒuxiàngōngsī
Yue: Cantonese
JyutpingOu3mun4-2 Leoi5jau4 Jyu4lok6 Gu2fan6-2jau5haan6gung1si1
Portuguese name
PortugueseSociedade de Turismo e Diversões de Macau, SA

History Edit

The company was founded in 1962 by Stanley Ho and his then partners Teddy Yip (Stanley Ho's brother-in-law through his sister, Susie Ho), Yip Hon and Henry Fok. In that year, it was granted a monopoly on gambling in Macau, which had previously been held by Tai Hing Company since 1934.[1]

In 1982, Ho and Yip had a major public falling out, as a result of which Yip disposed of his 10% share in STDM for a rumored HK$400 million. Cheng Yu-tung, founder of New World Development, stepped in to fill the breach.

Fok's attempt to sell his stake in 1986, for a reported HK$600 million, was resisted by Ho. Complaining about the company's strategy and dividend policy, Fok gifted the stake to the Henry Fok Ying Tung Foundation in 2002.[2]

Since 2002, STDM was the subject of numerous lawsuits initiated either by Ho of by his sister, Winnie. Only after the final challenge was resolved in 2008 was it able to list its casinos subsidiary Sociedade de Jogos de Macau (SJM) on the Hong Kong Stock Exchange.[2]

In 2011, STDM shareholders are:[3]

  • Lanceford Company Limited: 31.6% (itself held 100% by Stanley Ho until the controversy of January 2011)
  • Shun Tak Holdings: 11.5%
  • Winnie Ho Yuen-ki: 7%
  • Henry Fok Ying Tung Foundation: 27%[2]
  • Cheng Yu-tung 10%[2]
  • Others 12.9%[2]

Business activities Edit

Gambling Edit

Ho owns eight casinos, including Casino Lisboa, Macau's most famous casino. The casino features 107 slots and 146 table games. The property has six restaurants and a hotel with 1,000 rooms.

As casino gambling is illegal in Hong Kong, it is welcomed by tourists. Benefiting from the individual traveling policy between Hong Kong and Macau, the business of Casino Lisboa has increased rapidly, especially in the Chinese New Year. Within that period, the average daily income is HK$100 million. It is predicted that Lisboa will be required to pay HK$800 Million ($103 Million USD) on betting duty.

In the 1960s, Ho owned nine casinos in the Philippines; however, Ho abandoned his Philippine business ventures due to conflict with the president.

Apart from casinos, football, horse race and dog race gambling are the other main income sources of Macau's gambling industry. Before football gambling betting rules were established in Hong Kong, football gambling in Macau was very popular among Hong Kong residents.

For many years, the gambling industry of Macau was solely owned by Ho's STDM. At one time Ho controlled up to 70% market share of Macau's gambling business. This era of monopoly came to an end in 2000.

In February 2000, the government of Macau proposed to split Macau's gambling operation into three parts. The casinos in Macau were still under STDM, but those in Coloane (路環) and Taipa (氹仔) were opened for bidding. At last, in 2002, other casino operators were able to obtain licenses for casinos in Coloane and Taipa. The arrival of the Sands Macau and other planned destination resorts, such as The Venetian Macao and the Wynn Macau and those along the Cotai Strip, a Las Vegas Strip-like development.

Aviation Edit

A Hong Kong company owned by the family of Macau casino tycoon Stanley Ho invested up to a 30% stake in Air Macau's planned US$30 million low-cost airline in a press report.

Shun Tak Holdings has signed an agreement that the territory's flag carrier Air Macau and its parent China National Aviation Co will hold a majority stake in the airline, reported The Standard newspaper.

The carrier is expected to target the lucrative routes to China as well as the Asia Pacific region. Air Macau will transfer 22 routes to the venture and hold a 51 percent stake, and adding the budget airline will take over 11 Air Macau routes to China and 11 cities in the Philippines, South Korea and Vietnam.

STDM also have a business aviation arm, called Jet Asia, providing private jet services.[4][5]

Holdings Edit

The STDM holds numerous buildings in the peninsula of Macau, as well as the outlying islands and in Portugal. The more notable ones include:

Macau:

Portugal:

See also Edit

References Edit

  1. ^ Macau: A Cultural Janus, Christina Miu Bing Cheng Hong Kong University Press, 1999, page 159
  2. ^ a b c d e Gough, Neil; Sito, Peggy (29 January 2011), "Ho's battle over casino empire is not his first", South China Morning Post (Hong Kong)
  3. ^ Gough, Neil (25 January 2011), "Stanley Ho seeks answers from family members", South China Morning Post (Hong Kong)
  4. ^ "Up, up and away" 2011-06-29 at the Wayback Machine, The Standard, (Hong Kong), 6 September 2007
  5. ^ The Nation (Thailand), 12 August 2003

External links Edit

  • Site
  • , The Standard, 1 February 2011

October 21, 2023
sociedade, turismo, diversões, macau, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, schol. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Sociedade de Turismo e Diversoes de Macau news newspapers books scholar JSTOR December 2009 Learn how and when to remove this template message The Sociedade de Turismo e Diversoes de Macau SA abbreviated as STDM Chinese 澳門旅遊娛樂股份有限公司 is a company in Macau owned by the family of Stanley Ho Historically it held a monopoly to Macau s gambling industry as the only licensee for casinos In 2002 the government of Macau began issuing more licenses and the monopoly was broken Still of the 41 operating casinos in Macau 22 are owned by STDM as of 2019 Sociedade de Turismo e Diversoes de Macau SATypePublicIndustryHospitality TourismFounded1962 61 years ago 1962 FounderStanley HoHeadquartersMacauArea servedGlobalProductsGambling Hotels Entertainment Casinos ResortsOwnerStanley HoWebsitewww wbr sjmholdings wbr com wbr enSociedade de Turismo e Diversoes de Macau SAChinese nameTraditional Chinese澳門旅遊娛樂股份有限公司Simplified Chinese澳门旅游娱乐股份有限公司Literal meaningTourism and Entertainment Company of Macau LimitedTranscriptionsStandard MandarinHanyu PinyinAomen Lǚ you Yule Gǔ fenyǒuxiangōngsiYue CantoneseJyutpingOu3mun4 2 Leoi5jau4 Jyu4lok6 Gu2fan6 2jau5haan6gung1si1Portuguese namePortugueseSociedade de Turismo e Diversoes de Macau SA Contents 1 History 2 Business activities 2 1 Gambling 2 2 Aviation 3 Holdings 4 See also 5 References 6 External linksHistory EditThe company was founded in 1962 by Stanley Ho and his then partners Teddy Yip Stanley Ho s brother in law through his sister Susie Ho Yip Hon and Henry Fok In that year it was granted a monopoly on gambling in Macau which had previously been held by Tai Hing Company since 1934 1 In 1982 Ho and Yip had a major public falling out as a result of which Yip disposed of his 10 share in STDM for a rumored HK 400 million Cheng Yu tung founder of New World Development stepped in to fill the breach Fok s attempt to sell his stake in 1986 for a reported HK 600 million was resisted by Ho Complaining about the company s strategy and dividend policy Fok gifted the stake to the Henry Fok Ying Tung Foundation in 2002 2 Since 2002 STDM was the subject of numerous lawsuits initiated either by Ho of by his sister Winnie Only after the final challenge was resolved in 2008 was it able to list its casinos subsidiary Sociedade de Jogos de Macau SJM on the Hong Kong Stock Exchange 2 In 2011 STDM shareholders are 3 Lanceford Company Limited 31 6 itself held 100 by Stanley Ho until the controversy of January 2011 Shun Tak Holdings 11 5 Winnie Ho Yuen ki 7 Henry Fok Ying Tung Foundation 27 2 Cheng Yu tung 10 2 Others 12 9 2 Business activities EditGambling Edit Ho owns eight casinos including Casino Lisboa Macau s most famous casino The casino features 107 slots and 146 table games The property has six restaurants and a hotel with 1 000 rooms As casino gambling is illegal in Hong Kong it is welcomed by tourists Benefiting from the individual traveling policy between Hong Kong and Macau the business of Casino Lisboa has increased rapidly especially in the Chinese New Year Within that period the average daily income is HK 100 million It is predicted that Lisboa will be required to pay HK 800 Million 103 Million USD on betting duty In the 1960s Ho owned nine casinos in the Philippines however Ho abandoned his Philippine business ventures due to conflict with the president Apart from casinos football horse race and dog race gambling are the other main income sources of Macau s gambling industry Before football gambling betting rules were established in Hong Kong football gambling in Macau was very popular among Hong Kong residents For many years the gambling industry of Macau was solely owned by Ho s STDM At one time Ho controlled up to 70 market share of Macau s gambling business This era of monopoly came to an end in 2000 In February 2000 the government of Macau proposed to split Macau s gambling operation into three parts The casinos in Macau were still under STDM but those in Coloane 路環 and Taipa 氹仔 were opened for bidding At last in 2002 other casino operators were able to obtain licenses for casinos in Coloane and Taipa The arrival of the Sands Macau and other planned destination resorts such as The Venetian Macao and the Wynn Macau and those along the Cotai Strip a Las Vegas Strip like development Aviation Edit A Hong Kong company owned by the family of Macau casino tycoon Stanley Ho invested up to a 30 stake in Air Macau s planned US 30 million low cost airline in a press report Shun Tak Holdings has signed an agreement that the territory s flag carrier Air Macau and its parent China National Aviation Co will hold a majority stake in the airline reported The Standard newspaper The carrier is expected to target the lucrative routes to China as well as the Asia Pacific region Air Macau will transfer 22 routes to the venture and hold a 51 percent stake and adding the budget airline will take over 11 Air Macau routes to China and 11 cities in the Philippines South Korea and Vietnam STDM also have a business aviation arm called Jet Asia providing private jet services 4 5 Holdings EditThis list is incomplete you can help by adding missing items April 2020 This section does not cite any sources Please help improve this section by adding citations to reliable sources Unsourced material may be challenged and removed April 2020 Learn how and when to remove this template message The STDM holds numerous buildings in the peninsula of Macau as well as the outlying islands and in Portugal The more notable ones include Macau Grand Lisboa Hotel Lisboa Grand Lapa Macau Canidrome President Hotel Macau International Airport 31 interest Macau Golf and Country Club Hotel Golden Dragon Greek Mythology Casino Pousada de Sao Tiago Hotel Fortuna Lisboa Palace Tiger Slots Grand Emperor Hotel Grandview Taipa Island Casa Real Hotel Taipa Island Jet Asia Westin Resort Macau New Yaohan Department Store Seng Heng Bank Limited now Industrial and Commercial Bank of China Macau Portugal Casino Lisboa Casino Estoril Casino da Povoa Hotel Sintra Hotel Fortaleza do GuinchoSee also EditList of companies of MacauReferences Edit Macau A Cultural Janus Christina Miu Bing Cheng Hong Kong University Press 1999 page 159 a b c d e Gough Neil Sito Peggy 29 January 2011 Ho s battle over casino empire is not his first South China Morning Post Hong Kong Gough Neil 25 January 2011 Stanley Ho seeks answers from family members South China Morning Post Hong Kong Up up and away Archived 2011 06 29 at the Wayback Machine The Standard Hong Kong 6 September 2007 Bangkok s high fliers take to jet charters The Nation Thailand 12 August 2003External links EditSite Ho s empire stretches from gambling to graves The Standard 1 February 2011 Retrieved from https en wikipedia org w index php title Sociedade de Turismo e Diversoes de Macau amp oldid 1172063066, wikipedia, wiki, book, books, library,

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