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SJM profits fall 12.9 percent

Macau gaming operator Sociedade de Jogos de Macau (SJM) has announced its first half-year results for 2017, showing that the group’s revenue decreased by 2 percent when compared with the same period in 2016.

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UPDATED: 22 Dec 2023, 5:50 am

Macau gaming operator Sociedade de Jogos de Macau (SJM) has announced its first half-year results for 2017, showing that the group’s profits decreased by 12.9 percent compared with the same period in 2016.

The gaming revenue of SJM decreased also 1.9 percent.

According to Macau Daily Times, divided by gaming customers, mass market table gaming revenue was down by 0.5 percent in the period, while VIP revenue showed a decrease of 3.4 percent.

Slot machine revenue fell by 3.2 percent. At the same time, adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) and profit attributable to the owners of the company decreased markedly by 7.7 percent and 12.9 percent year-on-year respectively.

At the end of June 2017, SJM estimated that it commanded a 16.7 percent share of Macau’s gaming revenue; consisting of a 21.4 percent share of mass market revenue and a 14.2 percent share of VIP revenue.

The financial report released by the company also noted that its new resort, the Grand Lisboa Palace, is making good progress despite the industrial accident on June 18. It continues to anticipate an opening in the second half of 2018.

UPDATED: 22 Dec 2023, 5:50 am

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