Macau casino operator SJM Holdings endured double-digit declines in earnings and profit last year, while its share of the overall Macau market fell to a new record low.
Figures released Wednesday show SJM’s 2017 gaming revenue was essentially flat at HKD41.3b (US$5.3b), while adjusted earnings fell 10% to HKD3.1b and profit slumped 15.6% to just under HKD2b.
SJM’s VIP, mass market tables and slots revenue were all essentially flat year-on-year, despite the overall Macau market revenue rising nearly one-fifth over the same period. SJM’s share of Macau’s broader casino market fell to 16.1% in 2017, down from 19.1% in 2016, which was itself down from 2015’s 21.7%.
SJM CEO Ambrose So said the company remained optimistic about the future of Macau and claimed SJM was entering 2018 “in a strong position.” For the record, that’s the exact same phrase So used when discussing the company’s disappointing 2016 results, so read into that what you will.
SJM’s flagship Casino Grand Lisboa property reported revenue up 5.6% to HKD14.9m, driven mainly by an 11% rise in VIP gaming revenue, which offset a 4.2% fall in mass table revenue. But the property’s earnings and profit fell 5.1% and 1.4%, respectively.
Revenue at SJM’s 16 third-party promoted casinos reported revenue falling 5.5% to HKD20.2b, while these operations kicked back profits to SJM of HKD656m, down 13.4% from 2016.
SJM remains the only one of Macau’s six casino concessionaires yet to open a flashy venue in the lucrative Cotai region, but the company claims to have made “substantial progress” on its $4.6b Grand Lisboa Palace last year, despite damage caused by Typhoon Hato and the death of a construction worker in an industrial accident last June.
SJM’s CEO said the company was “still striving” to complete construction of the Grand Lisboa Palace “by the end of this year,” but analysts have suggested the property isn’t likely to open until mid-2019 at the earliest, and possibly not until 2020.
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The field of this year’s edition of the WPT L.A. Poker Classic $10,000 Championship was whittled down to just 13 contenders from a 493-strong field. Dennis Blieden, a player with two previous live tournament cashes, will be leading the pack of survivors into the penultimate day of WPT action at the host venue, Commerce Casino. 
One-time WPT winner Zachary Smiley is going for his second title from the series. The player ended Day 4 with the shortest stack, but has every chance to improve on Day 5. Anthony Zinno, holder of three WPT titles, is also still in contention. 
Nevada casinos topped the $1b gaming revenue mark in the first month of 2018, thanks in part to a near-record January at the sportsbooks. 
Hungary’s law on the allocation of licenses for the operation of brick-and-mortar casinos and that relating to the grant of licenses for the provision of online casino services are incompatible with EU’s treaty for the free movement of services across the union, according to the Court of Justice of the European Union. 
Under Hungary’s gambling regulations, only operators of land-based casinos across the country are able to obtain licenses from local regulators to provide online casino games. CJEU ruled today that that particular provision in the country’s gambling law represents a “radical restriction” of EU treaties for the free movement of services across Member States. 
Asian casino operator 
William Hill has received four offers from fellow gambling operators for its Australian business, the Australian Financial Review reported on Monday. The winning bidder is set to undergo due diligence before the end of the week and is expected to assume control over the Sportingbet brand next month. 
As mentioned above, William Hill entered Australia in 2013 with the acquisition of the Sportingbet, Tom Waterhouse, and Centrebet brands. All three were led by popular Australian bookmaker Tom Waterhouse at the time. In 2014, Mr. Waterhouse was appointed CEO of William Hill’s Australian business. 
The 
Casino operator Melco Resorts & Entertainment and its partner Cyprus Phasouri (Zakaki) Limited have begun searching for staff for their €550-million integrated resort, currently under development in the Cypriot city of Limassol. 
City of Dreams Mediterranean is expected to generate 4,000 temporary jobs each year during construction. Once fully operational, the resort would employ more than 6,500 people directly and indirectly. 
After the Greek Council of State gave last week the green light to the Hellenic Gaming Commission to prepare and launch a bidding process for casino operators interested to join the $8-billion plan for an integrated resort near Athens, more details about the gaming portion of the mega-scheme have emerged across local news outlets. 
According to Greek media outlets, the casino resort will be located in one of the 45-story towers that will be constructed as part of the larger complex. The casino resort will feature a five-star hotel with 1,200 rooms and suits, a conference facility, a thalassotherapy center, and multiple other facilities. 
The 2018 edition of the WPT L.A. Poker Classic $10,000 Championship kicked off on Saturday at Commerce Casino. As many as 475 entries registered for the prestigious tournament during its first day, but only 282 of them will progress into Day 2, which will be played later today at the host venue. 
Misirian revealed that playing with good poker players makes him feel more comfortable on the felt. The player went on to say that playing in an event that involves so many poker professionals provides opportunity to learn a lot. 
The possibility for the addition of a casino as part of the Maroochydore Central Business District development project is still being discussed by the Sunshine Coast Council, despite recent comments by Mayor Mark Jamieson that a facility of this type was not on their agenda at the time. 
In his letter, Cr Connolly wrote that Sunshine Coast does not have a large convention center that is paid for by the government, unlike other regions around the state. According to the City Councilor, a project that would include a gaming floor as well as different non-gaming facilities could significantly help the city fulfill its plan for a convention and exhibition venue. 
Greece is pressing forward with plans to get into the integrated resort casino business, motivated by the government’s need to ensure its international lenders keep the cash coming. 
Last summer, Tyler Groth captured his first WSOP gold bracelet for winning a $1,000 Pot-Limit Omaha event at Rio All-Suite Hotel & Casino in Las Vegas. Last night, the player captured his first WSOP Circuit gold ring for winning another Pot-Limit Omaha event, a $365 buy-in one, at the very same casino. 
As mentioned above, the tournament was played over two days and as part of the WSOP Circuit’s Rio stop. The final day of the event took place on Thursday with nine players left to sit at the final table when cards were thrown in the air. 
Sweden’s regulated market was worth SEK17.07 billion (approximately $2.09 billion) in 2017, latest figures released by the Swedish Gambling Authority, Lotteriinspektionen, show. Regulated gambling operations recorded a 1% decrease from a year earlier. 
According to a recent report by Swedish media research firm Mediavision, one in eight Swedes gambled on foreign gambling websites on a monthly basis in 2017. The reported figure represented a 25% increase from 2016. 
Former WSOP Main Event Champions will be the stars of the Live at the Bike! poker web show next Thursday and Friday, it has been announced. They will clash in cash games at the Bicycle Casino in Los Angeles, California and action will be streamed live on the Twitch and YouTube channels of Live at the Bike!
Australian casino operator 
The EU Court of Justice (CJEU) rejected earlier this week a petition filed by the Belgian Government against a set of recommendations for the protection of consumers of online gambling services and the prevention of minors from gambling online.
The European Commission introduced the Commission Recommendation on principles for the protection of consumers and players of online gambling services and for the prevention of minors from gambling online in the summer of 2014. It was not legally binding and only aimed to present Member States with a set of guidelines for the effective protection of online gambling customers and the prevention of minors from being targeted and allowed to gamble online. 
Casino operator 
The last days of January saw a rapid turn of events for one of the most renowned people in the international gambling industry and this was Steve Wynn, who is the former Chief Executive Officer of Wynn Resorts. This shook the industry and now it has the potential to affect the future projects of the company, among which the new $2.4-billion resort casino under construction in Everett, Massachusetts. 
Shortly after the information was made public, Congressman Michael Capuano claimed that the job positions which the new location is expected to guarantee are what is important in the moment and most beneficial for the community in general. The construction work of Wynn Boston Harbor was projected to give work to up to 4,000 people in its building phase, as well as provide an additional 4,000 jobs for permanent workers. 
