SJM Holdings optimistic for second half

SJM Holdings said it will focus on improving its operating efficiency in the second half and remains optimistic about its prospects despite declining gross gambling revenue in Macau.In its interim report, the operator of the Grand Lisboa casino, conceded its business will remain susceptible to the overall economic performance of the surrounding region and the level of visitation to Macau.The company reported total H1 revenue rose 4.7 percent to $44.4 billion ($5.7 billion), while profit available to owners of the group gained 1.9 percent to $3.9 billion.VIP gaming operations accounted for 62.8 percent of the group’s total gaming revenue in the reporting period, as compared to 69.4 percent for the corresponding period last year.Gaming revenue from mass market table gaming operations comprised 35.7 percent of the total up from 28.9 percent a year ago.As at 30 June 2014, Casino Lisboa operated a total of 131 mass market gaming tables, 41 VIP gaming tables and 162 slot machines.The group is aiming to open its new Lisboa Palace resort on Cotai in 2017.

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