Macau Casino Operator SJM Holdings Shows Revenue Growth

Macau casino gambling firm SJM Holdings' revenues are up 41% in Q3 2012.

Macau casino - GamingZion

Macau casino operator SJM Holdings reported a 41 percent increase in net profits to HKD 1.66 billion (or about US $214m) in the three month fiscal quarter ending on 30 September 2012.

SJM Holdings Limited is the holding company of Sociedade de Jogos de Macau S.A., one of the six authorized companies to operate casinos in the Macau Special Administrative Region since March 2002. SJM is the largest in Macau in terms of gaming revenue and number of operational casinos.

SJM attributed the success to the continued performance in the mass market segment. High rollers still generated the majority of SJM total gaming revenue, but their share fell 6.3% to HKD 12.5 billion.

SJM operated slightly less VIP tables (601 while 613 a year ago). There was 1.1% more mass market tables (1,158) and mass market revenue rose 12.1% to HKD 6 billion.

Slots revenue was up 4.5% to HKD 370 million, with total gaming revenue down 0.9% to HKD 18.9 billion. However, earnings grew 14.3% to HKD 1.89 billion.

The SJM Casino Grand Lisboa had an outstanding Q3, with gaming revenues up 25.5% to HKD 7.3 billion and earnings up a whopping 20% to HKD 1.15 billion.

SJM’s share of the total Macau casino market in Q3 2012 was down to 26.1% in Q3 from 27.3% in Q2 and 28% in Q3 2011. SJM believes their market share will improve after the final yes from Chinese gambling law authorities for construction of a new a casino on the Cotai Strip.

Year to date, SJM gaming revenues are up 2.2% to HKD 57.9 billion, while earnings grew 11% to HKD 5.7 billion, with profits up 32% to 5.07 billion.

As every Macau casino operator, SJM had to face the deal with this year’s scarcity of Chinese “whales”, the real high roller gamblers. According to Chinese gambling news, they will return at some point once the newly elected Communist Party leadership will finish transition of power.

Discuss Macau Casino Operator SJM Holdings Shows Revenue Growth | User Rating

Notify of
Inline Feedbacks
View all comments