Macau gaming company profits up 45.2%

The Macau Games Company (SJM), founded by Stanley Ho, today showed profits of HK $ 2,250 billion (€ 252 million) in 2018, an increase of 45.2% over the previous year.

The operator, with 22 casinos in Macao, had a 15.6% drop in profits attributed to the group’s shareholders in 2017.

In a statement, SJM indicated that gaming revenues last year grew 8.3% to 33.677 billion Hong Kong dollars 3,769 (billion euros).

According to the company, SJM had a share of 14.9% of the total gaming revenues in Macau.

SJM collected 19.5% of total mass market revenue and 12.2% of the VIP market, from the gaming world capital where, last year, casino revenues grew 14% to 302.846 billion patacas ( EUR 32,796 billion).

According to the group’s announcement, the operator reported US $ 3,724 million of adjusted EBITDA (earnings before taxes, interest, depreciation and amortization), an increase of more than 21.1% over the same period of 2017.

The group’s most emblematic hotel-casino, Grand Lisboa, had an occupancy rate of 95.5%, an increase of 1.7% over the previous year.

Macao’s casino gaming market continued its growth momentum in 2018 and SJM achieved significant revenue gains, Adjusted EBITDA and profit,” said Ambrose So.

He also said that he was confident that the construction of the Grand Lisboa Palace, the future integrated resort of SJM in Cotai, between Taipa and Coloane islands, will begin in the next few months, starting in February 2014.

The Grand Lisboa Palace will have a total area of 521 thousand square meters. Over 90% of the total area will be dedicated to non-gaming facilities, including hotels such as “Palazzo Versace” and “Karl Lagerfeld“, totalling two thousand rooms.

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