Macau’s key casino player records profit nosedive

The operator owns 17 of the 36 casinos in the former Portuguese colony, where it used to have a monopoly before the market was opened up to foreign operators in 2001, two years after China resumed control of the region.

SJM plans to open its Grand Lisboa Palace casino in the second half of 2017.

Macau’s casino gross revenue has declined year-on-year in each of the last 26 months and the total for the first six months of 2016 was 126.56bn patacas (£12.14bn), down 11%.

SJM’s gaming revenue for the period fell 21% to HK$20.88bn and total group revenue was HK$21.13bn, also dipping by 21%.

The gaming revenue total gave SJM a 20% share of the market, while SJM’s mass market table gaming revenue of HK$10.18bn equated to a 23% market share and VIP gaming revenue of HK$10.17bn gave it an 18% share of that market.

Adjusted EBITDA descended by just over a quarter to HK$1.63bn and earnings per share went down 39% to HK19.4 cents on both a basic and diluted basis.

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

David Cook

Editor

David Cook served as an editor and writer for Gambling Insider from 2018 to 2020, where he played a central role in shaping the publication’s editorial direction. He oversaw the creation and implementation of the broader editorial strategy for Gambling Insider and its related publications, managing the production of 30 print magazines annually while also contributing to the management of GamblingInsider.com and a weekly digital newsletter.

During his tenure, David led the publication’s largest editorial team to date, guiding its expansion and ensuring consistent, high-quality output across all channels. He also hosted and helped launch the GI Huddle podcast, a project he was proud to bring from concept to reality.

Visit Profile