HONG KONG Nov 15 Macau's biggest casino
operator, SJM Holdings Ltd, controlled by the family
of gambling tycoon Stanley Ho, posted a 41 percent increase in
third-quarter net profit, buoyed by a larger number of mass
market Chinese gamblers.
The former Portuguese colony of Macau is the only place in
China where casino gambling is legal. A drop in spending from
VIP high rollers has put rising pressure on SJM and its
competitors, who are already seeing a sharp slowdown in growth
in the world's casino capital.
SJM said on Thursday net profit in the third quarter was
HK$1.7 billion ($219 million) compared with HK$1.17 billion a
year earlier. EBITDA was HK$1.9 billion in the same period, in
line with a forecast of HK$1.9 billion by five analysts polled