‘We are still the leaders of the gaming industry’
Some eight years after the liberalisation of the gaming market, Ambrose So Shu Fai, Chief Executive Officer of Sociedade de Jogos de Macau (SJM) Holdings, has no doubts: “We are still the leaders of the gaming industry in Macau”. In an interview with Macau Daily Times, the experienced businessman says that being listed in Hong Kong was “the most important step”.
While he hopes to be granted a piece of land in Cotai before the end of the year, So stresses that SJM will not rush to the Strip. However, plans are being drafted and the company is considering, among other ideas, integrating the Macau Dome into their property in an effort to invest more in non-gaming elements.
The CEO of SJM Holdings, which owns Casino Lisboa and Grand Lisboa, downplayed comments that the company gets preferential treatment, and points a finger at its competitors’ strategy, saying that they are lacking some essential elements, like local knowledge.
Often seen as Stanley Ho’s right hand, So says the gaming tycoon is recovering well from last year’s accident, but rejects the perception that the company’s operation was affected. In fact, “after SJM was listed it has proven to the world that it can be run under international regulations, unlike general perception that it is run in a family style”.
Macau Daily Times (MDT) – Close to the end of the best year ever in terms of gaming revenue, how would you describe SJM’s performance?
Ambrose So (A.S.) – I think SJM is performing very well. We have a double-digit growth and we are very satisfied with our performance. Despite being a competitive market, we still lead the market, holding about 32 percent of the total market share. In fact, after the liberalisation of the casino industry, people believe that SJM market share would be marginalised, and just to the contrary of that belief, we still maintain [the biggest] market share and we are still the leaders of the gaming industry in Macau.
The most important step that SJM took was in 2008, in July, when we had our shares listed on the Hong Kong Stock Exchange, and this gave us access to the financial markets, which enabled us to grow in competition with our competitors. We are now able to compete at the same platform and this shows our commitment to the international standards of governance and transparency. It was a very important step for a native company from Macau.
http://www.macaudailytimes.com.mo/interview/...e-gaming-industry.html |
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