SJM Holdings Sees Ridiculous Gaming Revenue Increase

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Over the past several months, SJM Holdings has been in a state of flux. Stanley Ho, the pioneer that created the gaming giant, has been locked in a legal battle over his fortune, much of which came from SJM. The battle at times has become contentious.

On Wednesday, however, Ho and his family, who have come to an agreement that put the fighting behind them, were pleased to receive the latest news regarding the family business. SJM experienced a 160% increase in profits in the fourth quarter of 2010.

The profits of SJM soared to over $456.6 million in 2010. That represented an increase of almost three times the previous year. SJM is the most profitable of all the gaming companies in Macau, and even after they lost their monopoly they remain a dominant force in the industry.

"SJM Holdings will always be the preferred gaming company of Asian gamblers," said Gaming Analyst Steve Schwartz. "It is just like Las Vegas Sands, Wynn Resorts, or MGM Mirage in Las Vegas. Gamblers go where they are comfortable and it is clear that Asian gamblers are most comfortable at SJM-run casinos."

That is not to say that the Las Vegas companies are getting no love at their casinos in Macau. The gaming industry has grown to such large proportions that every company with a casino in Macau is profiting, so much so that the government and the gaming executives agreed to halt future development.

The casino operators that are already in the process of developing new properties can continue to do so, but no new facilities will be authorized. The growth of the Macau casino industry has been a savior for US-based gaming companies that have watched their stock prices soar on the strength of the Macau revenue.

March 17, 2011
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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