Profits of Macau casino operator SJM Holdings Ltd. jumped 56.8 percent in the first half of 2018 on the back of mass market strength of its self-promoted casinos.

In a disclosure to the Hong Kong Stock Exchange on Tuesday, SJM announced that its net profit surged to HKD1.50 billion (US$190.9 million) in the first six months of the year, compared to the HKD955 million (US$121.67 million) reported in the prior-year period. Its total net revenue stood at HKD17.2 billion (US$2.19 billion) in the first half of 2018, up 9.7 percent year-on-year.

SJM’s adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) for the six months ending June 30, 2018 also remained robust, growing by 29.9 percent to just under HKD2 billion (US$254.8 million) from the prior year period. Its adjusted EBITDA margin was also up 11.4 percent in H1 2018 from 9.8 percent in the first six months of 2017.

The casino operator attributed the profit rise to the strength of its mass market, which comprised 52.2 percent of the group’s total GGR. Data showed that SJM’s mass revenue climbed 13.3 percent to nearly HKD11.49 billion (US$1.46 billion) in the first half of 2018 from HKD10.14 billion (US$1.29 billion) in the same period last year.