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Casino operator SJM's net profit grew 14.2 per cent last year to top the consensus estimate of 18 analysts surveyed.
Attributable profit for the year to December was HK$7.7 billion, exceeding the HK$7.4 billion expected by analysts.
Gaming revenue rose 10.2 per cent to HK$86.9 billion.
Growth in mass market table gaming revenue outpaced that of the VIP segment, at 13.1 per cent to 9.4 per cent, respectively. Slot machine revenue dropped 7 per cent because of the closure of several hundred machines.
Founded by Stanley Ho Hung-sun, SJM held a four-decade long gambling monopoly in Macau. But the group's overall market share declined amid competition from international companies Wynn, Sands, Melco and MGM, which developed the Cotai Strip into Asia's version of the US gambling mecca of Las Vegas.
In 2012, SJM's market share was 26.7 per cent. It dropped to 24.8 per cent last year.
The company hopes to win back some of its share when it opens its Cotai project.
Earlier this month, SJM broke ground on its HK$25 billion resort called the Lisboa Palace. The new complex will take up more than 70,000 square metres. It will house three hotels with 2,000 rooms - the Lisboa Palace Hotel, the Palazzo Versace, and a third still unnamed hotel.
Macau gaming is on track for double-digit growth after a soft month in January when revenue rose just 7 per cent year on year, the slowest in 15 months, largely due to the difference in the timing of the Lunar New Year.
Visitor numbers broke records for the entire holiday. Data from the Macau government shows 1.05 million visitor arrivals, an increase of 13 per cent over the previous holiday period.
Barclays is predicting growth of at least 33 per cent for the gaming industry in Macau this month. For the first two months of the year, it expects growth of 20 per cent.
SJM declared a final dividend of 50 HK cents and a special dividend of 30 HK cents per share, raising the year's payout to HK$1 from 90 HK cents in the previous year.
Shares of SJM added 0.41 per cent yesterday to close at HK$24.40 while the Hang Seng Index rose 0.54 per cent.


SJM profit climbs 14.2pc to beat market forecasts

SJM, which operates the Grand Lisboa hotel in Macau, aims to win back market share with a resort on Cotai Strip. Photo: Felix Wong

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