Inside Asian Gaming

INSIDE ASIAN GAMING | October 2008 SJM Results SJM Results in Perspective Revenue falls, but profit rises in the first half of 2008 T he 8.1% increase in net profit for the first half of this year reported by SJM Holdings Ltd on the back of falling revenue must be taken on trust. In the equivalent trading period last year, the company was private and technically its accounts were unaudited. In spite of a 4.5% year-on-year fall in revenues, from HK$16.18 billion in the first half of 2007 to HK$15.45 billion in the first six months of 2008, SJM slightly exceeded the profit guidance it gave investors ahead of the company’s July initial public offering on the Hong Kong stock exchange. The company said audited profit attributable to shareholders for the half-year to 30 June amounted to HK$571.0 million, compared to SJM recently opened a new texas hold ‘em poker room on the second floor of Grand Lisboa. The number of hold ‘em tables at the property has increased to twelve from eight. The area is separated from the main gaming floor SJM’s flagship Grand Lisboa 22