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SJM Holdings profit rises 65 pct in Q3

SJM Holdings’ profit attributable to owners of the gaming company in the third quarter rose by 65.1 percent year on year to HK$707 million

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UPDATED: 22 Dec 2023, 5:50 am

SJM Holdings’ profit attributable to owners of the gaming company in the third quarter rose by 65.1 percent year on year to HK$707 million, the company founded by legendary gaming magnate Stanley Ho Hung Sun said in a statement to the Hong Kong Stock Exchange Tuesday.

In the first nine months of the year, profit attributable to the company’s owners rose by 59.4 percent to HK$2.2 billion patacas.

Net gaming revenue in the third quarter reached HK$8.3 billion, up 9.5 percent year on year. Between January and September, net gaming revenue rose by 9.6 percent to HK$25.17 billion.

Adjusted Ebitda reached HK$919 million in the third quarter, a year-on-year growth of 26.7 percent. Adjusted Ebitda margin grew to 10.8 percent in the July-September quarter. In last year’s third quarter, adjusted Ebitda margin growth stood at 9.4 percent.

Gross gaming revenue of Grand Lisboa, the company’s flagship casino, rose by 11.8 percent to HK$4.17billon year on year.

The statement quoted SJM Holdings Vice-Chairman and CEO Ambrose So Shu Fai as saying that the company in the third quarter “continued to turn in solid results,” adding that “at the same time, construction work on the Grand Lisboa Palace [in Cotai] has progressed at full speed, as we look forward to its opening next year.”

UPDATED: 22 Dec 2023, 5:50 am

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