SJM sees Macau 2013 casino revenue to grow less than 15%
Macau’s casino revenue climbed 14 percent to a record us$ 38 billion last year. While the yearly total was more than five times that of the Las Vegas Strip, the growth slowed from 42 percent in 2011. The Macau government has limited the growth of casino tables in the only place in China where they’re legal, putting a lid on gambling growth.
SJM, founded by casino mogul Stanley Ho, owns 20 of the 35 casinos in Macau, including its flagship Grand Lisboa. It faces intensifying competition as rivals including Sands China and Galaxy Entertainment Group expand in the former Portuguese colony.
SJM has gained 4.9 percent this yeardown by 1.8 percent. MGM China Holdings has climbed 38 percent, Sands China advanced 7.1 percent and Melco Crown Entertainment rose 16 percent since the start of the year.
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