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Sociedade de Turismo e Diversões de Macau

From Alfawiki
Sociedade de Turismo e Diversões de Macau, SA
Company typePublic
IndustryHospitality, Tourism
Founded1962; 64 years ago (1962)
FounderStanley Ho
HeadquartersMacau
Area served
Global
ProductsGambling, Hotels, Entertainment, Casinos, Resorts
OwnerStanley Ho
Websitewww.sjmholdings.com/en

The (commonly known as STDM; ) is a Macau-based enterprise controlled by the family of Stanley Ho. It once held exclusive rights over Macau’s casino sector as the sole license holder. Although this monopoly ceased in 2002 when the government started granting additional licenses, by 2019 STDM still operated 22 out of the 41 casinos functioning in Macau.

History

Established in 1962 by Stanley Ho alongside partners Teddy Yip, Yip Hon, and Henry Fok, STDM took over the monopoly of Macau’s gambling market from Tai Hing Company, which had maintained it since 1934.

In 1982, a significant conflict prompted Teddy Yip to divest his 10% stake for approximately HK$400 million, with Cheng Yu-tung of New World Development acquiring this share. Four years later, in 1986, Henry Fok sought to sell his holdings for HK$600 million but was prevented by Ho; eventually, due to strategic and dividend disagreements, Fok transferred his shares to the Henry Fok Ying Tung Foundation in 2002.

Between 2002 and 2008, family disputes resulted in legal battles that postponed corporate progress until STDM successfully listed its casino arm, Sociedade de Jogos de Macau (SJM), on the Hong Kong Stock Exchange.

By 2011, the ownership composition of STDM was as follows:

  • Lanceford Company Limited: 31.6% (formerly entirely owned by Stanley Ho)
  • Shun Tak Holdings: 11.5%
  • Winnie Ho Yuen-ki: 7%
  • Henry Fok Ying Tung Foundation: 27%
  • Cheng Yu-tung: 10%
  • Others: 12.9%

Gambling

Ho controls eight casino venues, notably including Casino Lisboa, Macau’s renowned casino featuring 107 slot machines, 146 table games, six dining establishments, and a hotel with 1,000 rooms.

As casino gambling is prohibited in Hong Kong, Macau serves as a major destination for tourists. The individual travel scheme between Hong Kong and Macau has significantly enhanced Casino Lisboa’s revenue, especially during the Chinese New Year, when daily earnings can reach HK$100 million on average. The casino is anticipated to remit HK$800 million (approximately $103 million USD) in betting duties.

During the 1960s, Ho operated nine casinos in the Philippines but withdrew following disputes with the country's president.

Beyond casinos, betting on football, horse racing, and dog racing constitutes substantial income streams in Macau. Prior to Hong Kong establishing its own football betting regulations, many Hong Kong bettors preferred Macau’s football gambling offerings.

For decades, STDM under Ho maintained a dominant position in Macau’s gambling sector with up to a 70% market share. This control ended around 2000 when Macau’s government restructured gambling operations. While STDM retained casinos within Macau city proper, casinos located in Coloane and Taipa were opened up for competitive licensing. By 2002 new operators entered these areas. The introduction of resorts such as Sands Macau, The Venetian Macao, and Wynn Macau along the Cotai Strip ushered in developments comparable to those seen on the Las Vegas Strip.

Aviation

A Hong Kong-based firm affiliated with Stanley Ho's family acquired up to a 30% interest in Air Macau's proposed US$30 million low-cost airline, which is aimed at serving routes within China and the Asia Pacific region. The majority ownership remains with Air Macau and its parent company, China National Aviation Co. This new airline will absorb 22 existing routes from Air Macau and introduce 11 new connections to destinations in China, the Philippines, South Korea, and Vietnam.

STDM manages Jet Asia, its business aviation division offering private jet charter services.

Holdings

STDM holds an extensive portfolio of properties in both Macau and Portugal, encompassing significant investments in hospitality, gaming, and infrastructure sectors:

Macau:

Portugal:

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