Playing a poor hand

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Playing a poor hand

机译：打不好的手

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After several false starts Stanley Ho, Macau's erstwhile casino monopolist, at last broke through a logjam of litigation and scepticism this week and took his ailing gambling franchise public, agreeing on July 2nd to sell a 25% stake for some $500m. sjm Holdings, as his company is now known, owns 19 of Macau's 29 casinos and has the biggest market share, but its lead is tenuous and the deal was not an easy sell. Hong Kong's new-issuance market is weak after many disastrous offerings this year, and for what Mr Ho wanted to sell-some shabby casinos built to serve what used to be a captive market-it is weaker still.

机译：在经历了几次错误的开局之后，澳门昔日的赌场垄断者何鸿ley（Stanley Ho）本周终于打破了诉讼和怀疑的僵局，并把自己身陷困境的赌博特许经营权公之于众，并于7月2日同意以约5亿美元的价格出售其25％的股份。如今，他的公司sjm Holdings拥有澳门29家赌场中的19家，拥有最大的市场份额，但其领先地位微弱，这笔交易并不容易。经过今年许多灾难性的发行之后，香港的新发行市场疲软，何鸿Mr想出售一些破旧的赌场，这些赌场是为过去的俘虏市场服务的，但这个市场仍然疲弱。

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《The economist》 |2008年第8587期|85|共1页
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Playing a poor hand

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