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SJM: Rooster to outperform Monkey

Executive Director and CEO of local gaming operator Sociedade de Jogos de Macau (SJM) Dr. Ambrose So expects the Year of the Rooster, which begun on January 28, to bring “renewed growth and prosperity” after more than two years of decline in gaming revenues. The comments came during SJM’s annual New Year dinner at the […]

Executive Director and CEO of local gaming operator Sociedade de Jogos de Macau (SJM) Dr. Ambrose So expects the Year of the Rooster, which begun on January 28, to bring “renewed growth and prosperity” after more than two years of decline in gaming revenues.
The comments came during SJM’s annual New Year dinner at the Grand Lisboa casino-hotel in which Dr. So recalled how the gaming industry at the beginning of last year followed the “descending trend that marked the two previous years” but that at the end of 2016 there was “a refreshing restart of some growth” – referring to the increases in casino revenues, for the first time in 26 months, in August.
“The market needs to wake up, and the rooster arrives really on time for that. As everybody knows, the rooster is the alarm clock of the animal kingdom. We anticipate it will bring renewed growth and prosperity to Macau,” asserted the CEO of the company founded by magnate Dr. Stanley Ho.
With regard to Grand Lisboa Palace, possibly the last project to be launched in the wave of new casinos and SJM’s only contribution to the Cotai Strip, in 2018, Dr. So noted “positive progress in the construction.”
In addition to being the “incorporation of five virtues in Chinese culture,” the rooster “is also a national symbol of Portugal,” stressed So, highlighting the fact that “Macau’s unique Portuguese heritage” connects China and Europe, placing the city “in an advantageous position to contribute to and benefit from the national “One Belt, One Road’ policy,” a project of investment fostered by China in order to enhance its position as a commercial and financial centre in Asia.
The latest data released by SJM reveals a decline of 11.1 per cent in its gaming revenues as at the third quarter of 2016 when compared to the same period in 2015.
Macau’s 38 casinos closed 2016 with MOP223.21 billion in revenues, a decrease of 3.3 per cent year-on-year, according to information from the Gaming Inspection and Co-ordination Bureau (DICJ). S.Z. with Lusa

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