Macau’s Sociedade de Jogos de Macau, S.A, better known as SJM Holdings, saw its gross gaming revenue climb 8.8% to HK$10.9 billion in the three months to 30 September 2018, driven by growth across all segments but most notably mass market.
SJM’s mass GGR increased 10.6% to HK$5.6 billion, with slot revenue up 13.7% to HK$285 million – outshining the 6.6% growth to HK$5.0 billion enjoyed by VIP. The group operated an average of 291 VIP gaming tables, 1,408 mass market gaming tables and 2,637 slot machines throughout 3Q18, all slightly more than in the same period last year.
Although mass proved the biggest growth segment in the quarter, VIP was negatively impacted by bad luck despite VIP turnover growing 12.2% to HK$166 billion.
SJM’s flagship property Grand Lisboa saw an 11.8% year-on-year increase in GGR to HK$4.2 billion, with Adjusted EBITDA for the property up 18.6% to HK$496 million.
Group Adjusted EBITDA enjoyed an even bigger jump, soaring 26.7% to HK$919 million. Profit attributable to owners of the company increased 65.1% to HK$707 million.
Dr Ambrose So, Vice-Chairman and Chief Executive Officer of SJM Holdings Limited, said, “SJM continued to turn in solid results in the third quarter of 2018, with good growth in the group’s revenue, Adjusted EBITDA and net profit compared with the previous year. At the same time, construction work on the Grand Lisboa Palace has progressed at full speed, as we look forward to its opening next year.”
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