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Macau casino SJM reports 12.9 pct fall in first half profit

HONG KONG, Aug 1 (Reuters) - Macau casino SJM Holdings reported a 12.9 percent fall in first-half net profit on Tuesday, hit by rising competition in the world's biggest casino hub which has eaten away at its market share.

SJM, controlled by the family of former kingpin Stanley Ho, helped put the former Portuguese colony on the map 40 years ago with the fluorescent, onion-shaped Casino Lisboa, and has presided over much of Macau's development as a casino city.

The Chinese territory is the only place in the country where casinos are allowed.

Net profit in the six months fell to HK$955 million ($122 million) from HK$1.1 billion from a year earlier, while revenues dropped 1.9 percent to HK$20.6 billion, SJM said in a statement via the Hong Kong stock exchange.

($1 = 7.8121 Hong Kong dollars) (Reporting by Farah Master; Editing by Susan Fenton)