Steady growth keeps SJM ahead in market share

 

Gaming profits for SJM Holdings Ltd. rose 6.2 percent to HK$3.78 billion ($487.4 million) in the first six months of 2013 from the same period last year as gaming revenues rose 8.1 percent to HK$42.1 billion, led by VIP growth. VIP chip sales went up 3.4 percent to HK$919 billion while VIP revenues rose 10.4 percent to HK$29.2 billion with the help of a higher hold rate. Mass table revenue rose 3.9 percent to HK$12.2 billion but slot revenues slipped 5.74 percent to HK$725.4 million. The company said it maintained its lead in market share with 25.3 percent of the overall Macau market. At its flagship Grand Lisboa casino, revenues increased 12.6 percent to HK$15.4 billion and the company said it would add space for high-limit baccarat tables to the premium mass market area next month while preparing for further mass and premium mass capacity additions. SJM doubled its interim dividend to 20 Hong Kong cents a share.