SJM Holdings’ gaming revenue fell 11.1 per cent year-on-year to HK$9.99 billion in the third quarter, the gaming company said in a statement on Tuesday.
In the first nine months, gaming revenue dropped 17.8 per cent year-on-year to HK$30.87 billion.
Adjusted Ebitda decreased 8.4 per cent to HK$810 million in the third quarter. In the first three quarters, adjusted Ebitda fell 22.3 per cent to HK$2.44 billion.
However, adjusted Ebitda margin (adjusted Ebitda divided by total revenue) in the third quarter increased to 8.0 per cent from 7.8 per cent year-on-year.
Profit attributable to the company’s owners in the third quarter stood at HK$513 million, a year-on-year increase of 80.2 per cent. In the first nine months, profit fell 22.4 per cent to HK$1.6 billion.
The company’s gaming revenues accounted for 18.7 per cent of Macau’s casino market in the third quarter, as compared with 21.3 per cent a year earlier.
VIP gaming revenue was HK$4.4 billion in the third quarter, down 19.1 per cent year-on-year. Mass-market gaming revenue was HK$5.3 billion, down 3.8 per cent. Slot machine and tombola revenue was HK$272 million, down 0.1 per cent.
The company’s total revenue of HK$10.12 billion included hotel, catering and related services revenue of HK$131 million.
The statement quoted SJM Holdings CEO Ambrose So Shu Fai as saying that “SJM’s operating margin improved in the third quarter due to stabilising revenue in Macau and the impact of our cost-controlling measures.”