Fisherman's Wharf, casino and hotel may be packaged for public share offer Gaming magnate Stanley Ho Hung-sun and partner David Chow Kam-fai may package Macau's struggling Fisherman's Wharf theme park, the 551-room Landmark Hotel and two casinos for an initial public share offering before the end of the year, industry and market sources said. Mr Ho and Mr Chow own 51 per cent and 49 per cent of Fisherman's Wharf, a 1.2 million square foot attraction built at a cost of HK$1.9 billion and opened on New Year's Eve last year. The park has had a rocky start, falling well short of attendance projections of 60,000 people per day. Financial figures for the theme park were not available but market sources said the original investors had already been asked to contribute an extra US$100 million to overcome a funds shortage. The mooted Fisherman's Wharf IPO comes as a legal dispute continues to delay the HK$15 billion listing of Sociedade de Jogos de Macau (SJM), Mr Ho's main gaming company. He had planned to complete the IPO in the first half of this year, but the Hong Kong stock exchange called a halt after Mr Ho's estranged sister, Winnie Ho Yuen-ki, challenged the shareholding structure of Sociedade de Turismo e Diversoes de Macau, which owns 80 per cent of SJM. US investment bank Merrill Lynch is said to be arranging the IPO. It declined to comment, as did Mr Chow and SJM. Industry sources said that while the size of the IPO had yet to be decided, it could take place as early as the end of this year. Fisherman's Wharf features attractions such as a 40-metre-high erupting volcano and an Arabian fort, a concert space and convention facilities. An expansion including a 72-room hotel and the SJM-run Babylon casino with 100 gaming tables and 200 slot machines is set to open by the first quarter of next year. The owners hope the Babylon will prevent customers being lured away to the adjacent Sands casino. The 22-storey, five-star Landmark Hotel and its attached Pharaoh's Palace Casino are 65 per cent held by Mr Chow and his family, with Mr Ho owning the rest. The SJM-operated casino has more than 60 tables; Mr Chow has said each table takes in about HK$70,000 per day in winnings. A high-stakes gaming room inside the casino, King Seiner Palace, is operated by Sonny Yeung Hoi-sing and Robert Chan Hon-keung, the majority owners of Hong Kong-listed Macau Success, which has an option to acquire a 20 per cent stake in the VIP operation. Another source said the Landmark Hotel's Legend Club, a VIP club owned by Mr Chow, featuring high-stakes tables, swimming pools and private restaurants, would also be part of the IPO. Several years ago Mr Chow, who is a Macau legislator, had a warrant issued for his arrest in Hong Kong after US casino operator Steve Wynn - now a competitor in Macau - tried to force him into bankruptcy over a US$5 million debt incurred during seven hours of gambling in 1995 at the now-demolished Desert Inn casino in Las Vegas. The two men settled their dispute in 2004.