SJM hopes for leveling-out in gaming revenue drop

Ambrose So

Ambrose So, the Chief Executive Officer of gaming operator SJM, has expressed his hopes that the gaming revenue decline will slow down during the fourth quarter of 2015.
The CEO made the comment in the context of SJM’s profit announcement, with the company recording an 80-percent slump in net profits in the third quarter of this year. He said that the slump was mainly because SJM needed to reserve some of its profits for stock market investment.
“We didn’t perform very well in the third quarter as we had already reserved some [of] it for areas such as the stock market. We have already announced the result and we hope the decline of the entire market in the fourth quarter can slow down a little so that everybody can take a breath,” said So.
The CEO revealed that the construction of SJM’s new Cotai resort, the Lisboa Palace, is progressing smoothly and that it’s slated to be ready in 2017.
TDM asked So how many gaming tables the operator is planning to apply for. According to the broadcaster, the gaming CEO replied that they have not decided on an exact figure but “the more the better.”
He added that SJM is transitioning to diversify its business and that only 10 percent of the Lisboa Palace’s total area will be reserved for gaming activities.
The fully constructed complex will span over 500,000 square meters and cover nearly seven hectares, including space for gaming facilities, retail shops and restaurants, as well as entertainment services and products.