Date
16 January 2017
So Shu-fai (center), seen with SJM executive director Angela Leong and chief operating officer Louis Ng, says all major bad news should now be reflected in the market. Photo: HKEJ
So Shu-fai (center), seen with SJM executive director Angela Leong and chief operating officer Louis Ng, says all major bad news should now be reflected in the market. Photo: HKEJ

Macau gaming sector near bottom, says SJM

The gaming sector in Macau may bottom out within two months, after a 12-month slump in revenues, a report Friday in the Hong Kong Economic Journal quoted SJM Holdings Ltd. (00880.HK) chief executive So Shu-fai as saying.

All major bad news should now be reflected in the market, So said. 

The Macau government, meanwhile, estimated that gaming revenues this month may fall further to MOP$16 billion (US$2 billion).

Total gaming revenue in Macau may decline at least 40 percent this year, judging from the present downtrend, So said.

Certain casino operators will experience losses in the coming two years, he said, consistent with the view of stock analysts. 

The SJM group — the gambling flagship of tycoon Stanley Ho Hung-sun and his family — will continue to add non-gaming elements to its business and seek to attract more visitors from Southeast Asia to diversify its income sources, So said.

Translation by Vey Wong

[Chinese version中文版]

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