Stanley Ho’s youngest son Mario sets sights on China’s first esports IPO in the US

Co-founded by Mario Ho, NIP Group has filed for an IPO on the Nasdaq Stock Exchange, where it aims to become the first listed Chinese esports company

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Ninjas in Pyjamas’ Olle Arbin and Levi Lorenzo de Weerd celebrate during the knockout match between the Swedish team and Germany’s FC Schalke 04 as part of the FIFAe Club World Cup on July 22, 2022, in Copenhagen, Denmark. Photo: Getty Images

Ann Caoin Shanghai

Published: 9:00am, 15 Jun 2024Updated: 5:49pm, 15 Jun 2024

Esports entrepreneur Mario Ho Yau-kwan, the youngest son of the late Macau casino tycoon Stanley Ho Hung-sun, is seeking to expand the international reach of his organisation NIP Group, as it pursues an initial public offering (IPO) in the United States.

NIP is a Cayman Islands-based holding company, with operations primarily conducted through two wholly-owned subsidiaries: Ninjas in Pyjamas Gaming in Sweden, which is engaged in esports teams operations; and Wuhan Xingjingweiwu Culture & Sports Development Co, which is involved in esports teams, talent management and event production operations. Its principal executive offices are located in Stockholm.

The company – in which co-founder, chairman and co-chief executive Ho holds a 14.2 per cent stake – has filed for an IPO on the Nasdaq Stock Exchange, according to a filing on Wednesday with the US Securities and Exchange Commission. Once its IPO is completed, NIP would become the first listed Chinese company in the esports industry.

“Today, growing esports into a generational audience worldwide is what we are busy doing,” Ho and co-founder and co-chief executive Hicham Chahine said in a letter, addressed to potential investors, attached to the group’s prospectus. “Esports have the power to change the world, and we at NIP Group have a responsibility to continue to develop the industry in a sustainable way.”

Mario Ho Yau-kwan, the co-founder, chairman and co-chief executive of NIP Group. Photo: Xiaomei Chen

While the group’s US filing did not disclose the amount of money it intends to raise, a document released in May by the China Securities Regulatory Commission showed that the company plans to issue no more than 26.9 million common shares on the Nasdaq.

NIP intends to use the net proceeds from its US listing for working capital, expanding the presence of its esports teams, marketing and growing their fan base, potential strategic acquisition and investment opportunities, according to its prospectus.