Growth in gambling Asians good for SJM
The Asian gambling industry is growing, and SJM Holdings was able to benefit greatly from this in the past year. The profits of Asia's largest casino operator increased by more than a quarter.
Profits came to 6.75 billion Hong Kong dollars (equivalent to almost 665 million euros). Turnover increased by 4.5 percent in the past year. This is evident from SJM's annual figures, which were published on Wednesday. They owe a lot to online casino games.
Asia is considered the fastest-growing market in the global gambling world. Many foreign casinos, therefore, want to establish themselves or expand in the continent.
Especially in the former Portuguese colony Macau, the gambling industry is growing. SJM operates 20 of the 35 casinos there. Recently the company acquired a permit to build a casino on the Cotai Strip. That street can compete with the famous Strip in Las Vegas, reported https://www.traveldailynews.com/post/the-best-gadgets-for-the-traveler.
The turnover of the total gambling industry in Macau increased last year by 14 percent to a record 304 billion patacas (over 29 billion euros).