SJM Holdings profits hit €376.2 million in 2019

Casino operator SJM Holdings saw profits rise 12.5% year-on-year.

Macau.- Casino operator SJM Holdings recoded a HK$3.2 billion (€376.2 million) profit for FY19, a 12.5 per cent year-on-year increase.

The company also reported HK$4.2 billion (€493 million) in adjusted EBITDA, a 13.2 per cent year-on-year increase, despite seeing a 1.2 per cent year-on-year fall in net gaming revenues to HK$33.1 billion (€3.8 billion).

The group held a 14.1 per cent share of Macau’s gross gaming revenue in 2019, including 18.2 per cent of mass market table gaming revenue and 10.4 per cent of VIP gaming revenue.

Regarding the Covid-19 pandemic, the group said it expects the crisis to have a material impact on the group’s results in the first half of 2020 and potentially beyond.

“It is not possible to predict the full extent or duration of the impact, however, as it will depend on the progression of the disease and efforts to control it”, the company’s Chairman and Executive Director, Daisy Ho, said in a statement.