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SJM says gaming revenue may see double-digit growth

SJM Chief Executive Officer Ambrose So Shu Fai said on Monday that as Macau’s gaming revenue has been up for nine straight months, and if the momentum continues, there could even be double-digit growth in this year’s gaming revenue.

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UPDATED: 22 Dec 2023, 5:46 am

SJM Chief Executive Officer Ambrose So Shu Fai said on Monday that as Macau’s gaming revenue has been up for nine straight months, and if the momentum continues, there could even be double-digit growth in this year’s gaming revenue.

So made the remarks while speaking to reporters after he officiated over the blessing ceremony for SJM’s dragon boat team which will be competing in the annual dragon boat competition at Nam Van Lake later this month.

So said that the unabated growth in gaming revenue for the last nine months was a good sign.

“It’s a good sign, because it [gaming revenue] had been falling for a long time, and now that it’s stable, it’s gradually going back up, so we hope we can keep this momentum,” So said.

“With this [in mind] and what analysts say, this year’s gaming revenue may see double-digit or high single-digit growth,” So added.

Asked about the opening of Grand Lisboa Palace being delayed to the second half of 2018, So said there was nothing unusual about a delay in such a mega-project.

“We originally planned to finish construction by the end of 2017, but as it is such a big project, postponing [the opening] by two months is nothing unusual,” So said, adding that the delay did not add extra costs to the HK$36 billion project.

According to So, the company now expects construction of Grand Lisboa Palace to be completed by February next year. He said it would then take the government a few months to survey the property before SJM gets the necessary licences to open the resort, which was now expected to happen in the second half of next year.

 

UPDATED: 22 Dec 2023, 5:46 am

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