Macau casino giant SJM Holdings reported a 27% increase in full-year profit to HK$6.75 billion (US$870 million) on HK$78.9 billion in gaming revenue (US$10.1 billion), a 4.5% increase over 2011.
VIP revenue rose to HK$53.3 billion from $52.8 billion a year ago, a 9.5% increase. Mass-market was up 13% to $24 billion. Machine gaming revenue, also up, hit $1.5 billion.
Hong Kong-listed SJM (HK: 0880), Macau’s largest operator, with 20 of the market’s 35 casinos, posted adjusted EBITDA of HK$7.6 billion, a 10% increase year on year.
“SJM’s market share remained steady and was gradually improving,” in the fourth quarter, wrote Kenneth Fong, a Hong Kong-based analyst at JPMorgan Chase & Co.
The company has proposed a special dividend of HK$0.30 a share on top of a final dividend of $0.50 a share.