Asia’s largest casino company by revenue, SJM Holdings (0880.HKG), reported a 27% increase in full-year profit to US$870 million, Bloomberg reported. Full-year profits exceeded an estimate of US$850 million by 25 analysts surveyed by Bloomberg. Founded by casino mogul Stanley Ho, SJM owns 20 of Macau’s 35 casinos but faces increasingly competition from Sands China (1928.HKG) and Galaxy Entertainment (0027.HKG). “SJM’s market share remained steady and was gradually improving,” Hong Kong-based analyst at JPMorgan Chase & Co Kenneth Fong said. SJM won a land grant in October to build its first casino in the Cotai Strip, a newly developed area of Macau.
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