SJM HOLDINGS(HK:00880)2019-04-29 09:43Financial Performance - Macau Gaming Holdings Limited reported a net gaming revenue of HKD 33,677 million for the year ended December 31, 2018, an increase of 8.3% from HKD 31,095 million in 2017[9]. - The company achieved adjusted EBITDA of HKD 3,724 million, reflecting a 21.1% increase compared to HKD 3,074 million in the previous year[9]. - Profit attributable to the company's owners rose by 45.2% to HKD 2,850 million, up from HKD 1,963 million in 2017[9]. - The basic earnings per share increased to HKD 0.504, compared to HKD 0.347 in the prior year[9]. - The total net revenue for the group in 2018 was HKD 34,410 million, an increase of 8.3% compared to HKD 31,771 million in 2017[16]. - The adjusted EBITDA for 2018 was HKD 3,724 million, reflecting a growth of 21.1% from HKD 3,074 million in 2017[16]. - The group’s profit attributable to owners increased by 45.2% to HKD 2,850 million from HKD 1,963 million in 2017[16]. - The group’s market share in Macau's gaming revenue decreased to 14.9% in 2018 from 16.1% in 2017[17]. - The total gaming revenue in Macau for 2018 reached HKD 294.025 billion, with the group accounting for approximately HKD 43.8 billion[17]. Gaming Revenue Breakdown - The company's mass gaming revenue and slot machine revenue grew by 12.1% and 12.6% respectively, while VIP gaming revenue decreased by 1.1%[11]. - The mass table gaming revenue increased by 12.1% to HKD 23,080 million in 2018 from HKD 20,584 million in 2017[21]. - The VIP gaming revenue decreased by 1.1% to HKD 19,663 million in 2018 from HKD 19,877 million in 2017[19]. - The average daily net win per VIP table increased by 1.0% to HKD 187,055 in 2018[19]. - The average daily net win per mass table increased by 10.1% to HKD 44,657 in 2018[21]. - The flagship New Lisboa Casino reported a 4.7% increase in gaming gross revenue, reaching HKD 15,663 million in 2018 compared to HKD 14,959 million in 2017[24]. - The flagship New Lisboa Casino reported a 24.3% increase in adjusted EBITDA, with VIP gaming revenue, mass table gaming revenue, and slot machine revenue increasing by 0.5%, 13.3%, and 16.0% respectively[11]. Operational Developments - The company is expanding its operations with the development of the "Grand Lisboa Palace" integrated resort, which will enhance its market position in the Cotai area[5]. - The group plans to complete the construction of the "Lisboa Palace" project in the first half of 2019, which will significantly increase hotel room capacity[12]. - The "Lisboa Palace" integrated resort is expected to open by the end of 2019, offering approximately 1,900 hotel rooms and a total floor area of 521,435 square meters[36]. Hotel and Service Performance - The average room rate for the New Lisboa Hotel was HKD 1,495, with an occupancy rate of 95.5% for the year[11]. - The new Lisboa Hotel generated revenue of HKD 518 million and adjusted EBITDA of HKD 33 million in 2018, compared to HKD 526 million and HKD 81 million in the previous year[33]. - The average occupancy rate for the new Lisboa Hotel was 95.5% in 2018, up from 93.8% in 2017, while the average room rate decreased to HKD 1,495 from HKD 1,609[33]. - Total revenue from all hotels, dining, retail, and related services was HKD 733 million in 2018, an 8.4% increase from HKD 676 million in 2017, driven by higher occupancy rates and retail business growth[34]. Community Engagement and Corporate Social Responsibility - 澳博设立的“澳博奖学金”每年资助十名优秀学生，每人每年获得20,000澳门元，至完成课程止[48]. - 2018年，澳博为1,244名新聘员工提供负责任博彩培训，并在多个娱乐场所宣传负责任博彩，覆盖11,895名员工[54]. - 超过650名澳博员工参与义工活动，支持社会服务机构和慈善活动[57]. - 澳博于2018年12月举办的慈善拍卖晚宴为澳门慈善机构筹集善款，所得款项全数捐赠[56]. - 澳博连续第四年冠名赞助“澳博澳门GT杯 — 国际汽联GT世界杯”[52]. - 澳博在2018年支持多项文化活动，包括赞助“第七届澳门文学节”和“第18届澳门美食节”[51]. - 澳博于2018年10月成为“世界旅游经济论坛”的主要赞助商[56]. - 澳博于2018年与逸安负责博彩辅导中心合作，积极推广负责任博彩[54]. - 澳博为员工子女设立的奖学金计划自2005年成立以来已有91名学生毕业[48]. Environmental and Sustainability Initiatives - The company participated in multiple environmental activities during the "Macau Energy Saving Week" and co-hosted the 7th International Clean Energy Forum in December 2018[60]. - The company received several awards in 2018, including the "Sustainable Energy Award" for hotels and the "Environmental Performance Award" gold award[61][69]. - The company received multiple awards including the Silver Award for "Macau Environmental Hotel Award 2017-2019" and the Gold Award for "Environmental Performance Award" at the 2018 Macau Business Awards[78]. Corporate Governance and Leadership - The company has a diverse board with members holding significant positions in various sectors, enhancing its governance and strategic direction[80]. - The company emphasizes corporate governance and social responsibility through active participation in community and charitable initiatives[93]. - The board of directors consists of 12 members, with 58.3% being executive directors, 8.3% non-executive directors, and 33.4% independent non-executive directors[192]. - The company adopted the corporate governance code as per the listing rules and complied with its provisions, except for a deviation regarding the absence of Dr. Ho Hung San due to health reasons[190]. - The roles of the chairman and CEO are clearly separated, with the chairman responsible for overall business development policy and the CEO managing the group's operations[196]. Stock Options and Shareholder Information - The share option plan approved in 2009 allows for the issuance of up to 500 million shares, with 33.75 million shares available for issuance as of the report date, representing approximately 0.60% of the issued share capital[130]. - As of December 31, 2018, a total of 477,085,000 stock options were granted under the plan, with 277,980,000 options exercised, generating total proceeds of HKD 1,858,651,740 from the issuance of shares[133]. - The total number of shares issued was 5,659,659,293 as of December 31, 2018[174]. - Major shareholder Macau Entertainment Holdings Limited owns 3,062,059,500 shares, accounting for 54.10% of the issued shares[177].