Macau: Profit at Stanley Ho’s Sociedade de Jogos falls 20 pct in 2007

1 April 2008

Macau, China, 1 April – Sociedade de Jogos de Macau, the gaming and gambling company controlled by magnate Stanley Ho, said Monday in Macau that profit in 2007 totalled 1.8 billion patacas (US$225 million), a fall of 20 percent against 2006.

According to information given to journalists by Stanley Ho and Ambrose So, both directors of SJM, the company’s turnover totalled 33 billion patacas and 12 billion patacas were paid in taxes to the government.

They added that 1 billion patacas would be distributed as dividends to the company’s shareholders. Sociedade de Turismo e Diversões de Macau, the former holder of the monopoly in gaming and gambling in Macau, owns 80 percent of SJM.

SJM’s accounts were approved in a marathon of general meetings held Monday in Macau and which included several companies controlled by Stanley Ho via SJM and Sociedade de Turismo e Diversões de Macau.

SJM controls 19 of the 29 casinos in operation in Macau and is the only operator in the territory that is not, directly or indirectly, listed on a stock exchange. (macauhub)