Macau gaming operator SJM Holdings said in a statement to the Hong Kong Stock Exchange on Monday that its net profit rose 12.5% year-on-year to HK$3.2 billion in 2019.
SJM
Forbes Travel Guide unveiled its 2020 star award winners today with Grand Lisboa receiving 5 stars for the first time.
If they do leave due to the China-US trade war worsening further, local or mainland Chinese-funded companies could take over the respective hotel-casino resorts to run the gaming businesses.
Construction of Grand Lisboa Palace in Cotai would be completed by early next month.
Complete construction of Grand Lisboa Palace integrated resort in Cotai scheduled by the end of this year.
SJM Holdings Executive Director-cum-CEO Ambrose So Shu Fai said on Thursday that the China-US trade war was set to impact Macau’s gaming revenues to some extent if it continues.
The Macau government has extended the gaming concession and sub-concession of SJM and MGM respectively by two years and three months until June 26, 2022, bringing them on par with the city’s two other gaming concessions and two sub-concessions.
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.
Gaming operator SJM said in a statement Wednesday that it was saddened by the news of the passing away of fashion designer Karl Lagerfeld, saying that the Karl Lagerfeld Hotel at its under-construction Grand Lisboa Palace in Cotai will be a legacy to the couturier’s creative genius.