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Stanley Ho is going to enlarge Macau Holdings
 July 23, 2007, 9:50 am (4 years ago)Stanley Ho, a casino magnate and his family, who operates the Hong Kong – Shun Tak Holdings Ltd, is going to purchase a property in Macau worth’s $939 million. Hopewell’s official statement is, Sun-Tak is going to pay a massive $626 million to claim 50 percent to Ho’s Private Company.
According to a Hong Kong based property agency he Midland Reality Ltd. the average price of the land sold at Macau is $202 per square feet, which is a rise more than 50 percent then 2002. One of the most important reason of this high value of land is, Macau is the only city in China where casino’s are legal.
The company didn’t faced any problem to pay this huge amount of money because they are banking in a 82.2 percent increase in revenue annually. Last year Shun-Tak earned $663.9 million and $364.4 million in the previous year. The economy of Macau may rise upto 16.5 percent during this year.
Stanly Ho stated that with well organized presence and excellent service network helped to strengthened the economy of Macau. During this year the company extended its core business in promising long-term track with newly added in air tour and retail schemes. This current purchase will guarantee above 25 percent of the project for the Shun-Tak company which is well enough for possession.
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