MACAU, S.A.R. - Stanley Ho's SJM Holdings Ltd. announced that its net profit for the third quarter was six times larger than its profit during Q3 of 2009.
From July to September this year, SJM Holdings reported a net profit of HK$ 867 million (US$ 112 million), which was more than six times the HK$ 138 (US$ 18 million) it posted during the same period last year.
Revenue for the period was posted at HK$ 14.1 billion (US$ 1.81 billion), up from HK$ 8.34 billion (US$ 1.07 billion) over the same period last year.
SJM attributed the growth to a 100% increase in VIP gambling revenue generated by its 474 gaming tables for highrollers. In the same period of 2009, it had 239 gaming tables.
SJM leads all casino operators in Macau in terms of market share with a commanding 33% at the end of October. It owns 20 of Macau's 33 casinos and expects to be granted a concession to put up a casino on Cotai by the end of the year.
Source: Macau News
Date Posted: November 10, 2010
