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SJM 2018 profit rises 45 pct to HK$2.8 billion

Hong Kong-listed SJM Holdings’ net profit rose by 45.2 percent year-on-year to HK$2.85 billion patacas last year, the gaming company said Thursday.

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UPDATED: 22 Dec 2023, 5:47 am

Hong Kong-listed SJM Holdings’ net profit rose by 45.2 percent year-on-year to HK$2.85 billion patacas last year, the gaming company said Thursday.

Net gaming revenue earned by SJM, a subsidiary of SJM Holdings, increased by 8.3 percent to HK$33.67 billion patacas.

Adjusted EBITDA of SJM Holdings and his subsidiaries was HK$3.72 billion, an increase of 21.1 percent from 2017.

According to the statement, SJM had a 14.9 percent share of Macau’s gross gaming revenue last night, including 19.5 percent of mass-market table gaming revenue and 12.2 percent of VIP gaming revenue.

The statement said that the company expected to complete construction of its Grand Lisboa Palace casino-hotel resort in Cotai in the first half of this year, “beginning operation as soon as possible thereafter”.

The statement quoted Ambrose So Shu Fai, vice-chairman and CEO of SJM Holdings, as saying that “Macau’s casino gaming market continued its growth momentum in 2018 and SJM achieved material gains in revenue, adjusted EBITDA and net profit.

UPDATED: 22 Dec 2023, 5:47 am

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