Macau casino firm SJM Q1 net profit up 12 pct

HONG KONG Mon May 6, 2013 5:22am EDT

HONG KONG May 6 (Reuters) - Macau casino operator SJM Holdings Ltd, controlled by the family of gambling tycoon Stanley Ho, posted a 12 percent year-on-year increase in first-quarter net profit, buoyed by strong interest from cash-rich Chinese gamblers.

SJM on Monday reported net profit of HK$1.9 billion ($240 million) for the first three months of 2013, compared with HK$1.7 billion a year earlier.

Macau, a former Portuguese colony, is the only place in China where citizens can legally gamble in casinos.

For the full earnings statement made to the Hong Kong stock exchange, click:

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