Operator News
China – Macau VIP revenues sink for SJM Holdings
By Phil - 1 May 2019
SJM Holdings, once the monopolist force in Macau gaming, lost more market share in the first quarter as gaming revenue plateaued despite a surge by mass gaming revenues.
The group’s VIP gross gaming revenue fell sharply to HK$3,935m, a decrease of 19.4 per cent whilst mass market gross gaming revenue was HK$6,193m, an increase of 7.9 per cent from HK$5,741m, and slot machine gross gaming revenue was HK$290m, a decrease of 1.3 per cent from HK$294m.
Overall, GGR increased by 0.8 per cent for the company reaching to HK$8,476m with profit increasing by 16.5 per cent to HK$850m. The increase was mainly due to an increase in mass market gross gaming revenue. The Group’s gross gaming revenue accounted for 14.1 per cent of Macau’s casino gaming revenue during Q1 2019, as compared with 14.7 per cent in Q1 2018.
During the quarter the group operated an average of 280 VIP gaming tables, 1,410 mass market gaming tables and 2,594 slot machines.
The Grand Lisboa Hotel achieved an average occupancy rate of 94.7 per cent and average room rate of HK$1,500 per night, as compared with average occupancy rate of 97.2 per cent and average room rate of HK$1,582 per night in Q1 2018.
