Stanley Ho's SJM Makes $456 Million Profit In 2010

Buoyed on by the ever increasing demand for gambling in the Chinese enclave of Macau, Stanley Ho’s casino operating company SJM Holdings saw its net profit soar in 2010 to HK$3.56 billion ($456 million).
The staggering profit represented an almost quadrupling of that made in 2009 of HK$907 million ($117 million). In addition, the company saw a 160% increase in its fourth-quarter net profit to HK$1.12 billion ($143 million).
SJM Holdings is one of Asia’s biggest casino operators and Macau’s most profitable gaming company. Prior to 2001, Stanley Ho enjoyed a 40 years monopoly on Macau’s gambling industry until gambling licenses were issued to foreign competition.
However, Ho’s SJM Holdings has still managed to maintain its position at the forefront of Macau’s casino industry and, as the firm’s annual report states:
“SJM continued to lead in market share of the Macau casino gaming market, with 40.1 percent of mass market table gaming revenue and 29.5 percent of VIP gaming revenue.”
There were worries recently that a legal feud between Stanley Ho and his family over the 89 year-old entrepreneur’s vast US$2.1 billion fortune would undermine the business.
Ho has 17 children from four women he refers to as his wives and Ho had previously accused various relatives of trying to wrestle control of SJM from him. However, apparently a settlement has now been reached and its business as usual for Stanley Ho and SJM Holdings.
As Gaming Analyst Steve Schwartz explains: “SJM Holdings will always be the preferred gaming company of Asian gamblers. 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.”

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