SJM Holdings GGR up 77.3% in Q1
The casino operator has reported gross gambling revenue of HK$6.89bn (US$881m).
Macau.- SJM Holdings has shared its financial results for the first three months of the year. Gross gaming revenue (GGR) was up 77.3 per cent year-on-year at HK$6.46bn (US$827m). The company posted a narrowed loss attributable to owners of HK$74m (US$9.5m). That compares with HK$869m (US$111m) a year earlier.
Net gaming revenue was up 74.5 per cent year-on-year to HK$6.46bn (US$827m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at HK$864m (US$110.5m), compared with HK$31m (US$4m) in the same period last year.
Grand Lisboa Palace generated gross revenue of HK$1.42bn (US$181.4m), with GGR of HK$1.1bn (US$142.1m) and non-gaming revenue of HK$307m (US$39.3m). Adjusted property EBITDA was HK$88m (US$11.3m), compared with negative HK$230m (US$29.4m) in the first quarter of 2023.
Hotel Grand Lisboa generated GGR of HK$1.88bn (US$249m) and non-gaming revenue of HK$81m (US$10.4m). Adjusted property EBITDA was HK$334m (US$42.7m), up 27.5 per cent in year-on-year terms. Satellite casinos under SJM recorded a 54.7 per cent increase in casino revenue to HK$2.6bn (US$338.2m) and an adjusted property EBITDA loss of HK$52m (US$6.7m).
Daisy Ho, chairman of SJM Holdings Limited and managing director of SJM Resorts, said: “The quarter was characterised by strong performance across all our self-promoted properties, in both gaming and non-gaming sectors.
“It is a clear testament to the effectiveness of management’s focused efforts on improving our internal ROI and our team’s relentless drive for exceptional customer experiences. We have a full calendar of large-scale international events in the pipeline, designed to amplify SJM and the Lisboa brand’s visibility on the global stage, and provide multidimensional experiences for our guests as part of our mass market and overseas promotion strategy.”
