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SJM Holdings reports 22% rise in net profit for Q1

May. 8, 2012 (China Knowledge) - SJM Holdings Ltd<0880>, the largest casino operator by revenue in Macau, announced yesterday that its net profit jumped 22% year on year to HK$1.71 billion in the first quarter of this year, driven by robust growth in the city's casino gambling revenue.

The Hong Kong-listed company saw its revenue grow 8.6% year on year to HK$19.84 billion in the period, accounting for 27% Macau's casino market, down from a market share of 31.9% in the same period of last year.

The gambling giant is still waiting for approval to build its new casino on the Cotai strip, the fastest growing casino district in Macau.

In 2011, SJM earned HK$5.31 billion in net profit, reflecting a year-on-year increase of 49% from HK$3.56 billion, principally boosted by surged gambling revenue in the city.






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