Macau casino SJM first-half net profit up 12 percent
HONG KONG Aug 14 (Reuters) - Macau casino SJM Holdings Ltd , controlled by the family of gambling tycoon Stanley Ho, posted a 12 percent increase in net profit in the first half on strong demand from gamblers eager to bet in China's only legal casino hub.
SJM's net profit for the year January-June period totaled HK$3.8 billion ($487 million) versus HK$3.4 billion a year earlier. That was slightly better than an average forecast of HK$3.6 billion, according to Thomson Reuters Eikon data.
Macau, a former Portuguese colony located an hour away from Hong Kong by ferry, has seen gambling revenues soar despite slowing growth in China, with revenues growing 20 percent in July.