SJM Holdings posts net gaming revenue of US$1.1m for H1

SJM Holdings’ net gaming revenue was up 128.2 per cent when compared to last year.

Macau.- SJM Holdings has reported net gaming revenue of HK$8.69bn (US$1.1m) for H1. That’s a rise of 128.2 per cent year-on-year from HK$3.81bn in the first half of last year.

Adjusted EBITDA came in at HK$461m (US$59m) compared to a loss of HK$1.2bn (US$150m) in the prior-year period. Loss attributable to owners of the company was HK$1.2bn (US$161m), compared with a loss of HK$2.7m in the first half of 2022.

The casino operator reported that it had an 11.8 per cent share of Macau’s gaming revenue, including 14.9 per cent of the mass-market table game market and 3.5 per cent of VIP. Grand Lisboa Palace generated gross revenue of HK$1.4bn (US$182m) – GGR of HK$1.03bn (US$132m) and non-gaming revenue of HK$396m (US$50.5m). Adjusted property EBITDA was negative HK$292m.

Grand Lisboa Palace Resort’s occupancy rate increased by 49.6 per cent from the first half of 2022 to 83.9 per cent. The average daily room rate increased by 47.8 per cent to HK$1,360.

Meanwhile, Hotel Grand Lisboa generated gross revenue of HK$2.4bn (US$307m): gross gaming revenue of HK$2.26bn (US$289m) and non-gaming revenue of HK$137m (US$17.5m). Those figures compare with HK$705m (US$90m) and HK$71m (US$9.1m) in the first half of 2022. Adjusted property EBITDA was HK$473m (US$60.4m).

Grand Lisboa Hotel’s occupancy rate increased by 40 per cent to 87.8 per cent. The average daily room rate increased by 59.6 per cent to HK$1,026.

See also: Daisy Ho optimistic about non-gaming projects in Macau