SJM Holdings nine-month net jumps to HK$2.2bBusiness | 30 Oct 2018 4:35 pm
Casino owner and operator SJM Holdings (0880) reported today net profit in the thrid quarter jumped by 65.1 percent to HK$707 million, from the year before.
For the nine months ended September 30, net profit grew by 59.4 percent toHK$2.20 billion, from the first nine months of 2017.
SJM Holdings Limited is the holding company of Sociedade de Jogos de Macau S.A., one of the six companies authorised to operate casino games of fortune and other games of chance in casinos in Macau.
Net gaming revenue in the nine months was HK$25.17 billion, an increase of 9.6 percent from the first nine months of 2017.
Net profit for the third quarter grew by 65.1 percent from last year to HK$707 million. Net gaming revenue in the third quarter was HK$8.33 billion, an increase of 9.5 percent from a year earlier, and for the nine months ended 30 September 2018.
Gross gaming revenue of Casino Grand Lisboa for the third quarter was HK$4.17 billion, an increase of 11.8 percent from a year earlier. For the nine months ended 30 September 2018, Casino Grand Lisboa’s gross gaming revenue was HK$12,123 million, an increase of 9.3 percent from the first nine months of 2017.
The group maintained a strong and liquid financial position, with HK$20.2 billion of cash, bank balances and pledged bank deposits and HK$15.44 billion of debt as at September 30, 2018.
Construction of the Grand Lisboa Palace, the integrated resort on Cotai, is proceeding apace and the company is looking forward to its opening in 2019.
Shares were down slightly to HK$6.29.