SJM Holdings Limited Announces Key Performance Indicators for First Quarter 2010
Profit increases 451%; Adjusted EBITDA increases 155%
Market share grows to 31.9%
(Hong Kong, 18 May 2010) – SJM Holdings Limited (the “Company”) today announced unaudited key performance indicators of the Company and its subsidiaries (collectively the “Group”) for the quarter ended 31 March 2010.
During the three months ended 31 March 2010, the Group’s VIP gaming revenue was HK,282 million, an increase of 104% from HK,055 million in the first quarter of 2009, mass market gaming revenue was HK,122 million, an increase of 39% from HK,974 million, and slot machine revenue was HK9 million, an increase of 11% from HK0 million. The Group’s total revenue during the first quarter of 2010 of HK,763 million included hotel, catering and related services revenue of HK million.
During the first quarter of 2010 the Group operated an average of 411 VIP gaming tables (first quarter 2009: 206), 1,361 mass market gaming tables (first quarter 2009: 1,163) and 4,614 slot machines (first quarter 2009: 3,920) (average of three month-end counts).
Total VIP chip sales for the Group during the three-month period were HK8.5 billion (first quarter 2009: HK0.8 billion), and the VIP gaming hold percentage (before commissions and discounts) was 2.87% (first quarter 2009: 2.88%).
During the three months ended 31 March 2010, the Grand Lisboa Hotel achieved average occupancy rate of 72.2% and average room rate of HK,924 per night.
Capital expenditure of the Group during the first quarter of 2010 was HK8 million, which was primarily for Casino Oceanus at Jai Alai and equipment purchases.
Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, said, “We are very pleased to announce summary quarterly results of SJM Holdings for the first time, in order to enable our shareholders, investors and the public to better appraise the position and business performance of the Company.”
“The increase in our net profit by 451% during the first quarter of 2010 and the increase in our Adjusted EBITDA by 155% show that we are obtaining positive results from the past year’s initiatives to expand capacity as well as to increase efficiency and operating leverage throughout our casino portfolio. While overall market conditions have been favourable, the fact that we have increased our market share testifies to the fundamental strength and excellent positioning of our business. We look forward to excellent prospects for the Group during the rest of the year.”
Further information on SJM Holdings Limited including the Group’s audited financial statements for the year ended 31 December 2009 can be found on www.sjmholdings.com.