SJM Holdings posts net revenue of US$1.77m for H1

Net revenue was up 47.4 per cent year-on-year.

Macau.- SJM Holdings has shared its financial results for the first half of the year. It posted net revenue of HK$13.8bn (US$1.77bn). That’s a rise of 47.4 per cent year-on-year. Adjusted EBITDA came in at HK$1.7bn (US$222m), up 275.9 per cent compared to the previous year.

The company posted net gaming revenue of HK$12.8bn (US$1.64bn), up 48.3 per cent year-on-year, while gross gaming revenue (GGR) rose to HK$13.79bn (US$1.77bn), up 50.3 per cent. The casino operator reported that its GGR market share increased to 12.5 per cent, up from 11.8 per cent. It recorded an average hotel occupancy of 94.2 per cent.

Grand Lisboa Palace generated gross revenue of HK$2.95bn (US$379m): GGR of HK$2.32bn (US$298m) and non-gaming revenue of HK$631m (US$81m). Adjusted property EBITDA was HK$192m (US$24.6m). The occupancy rate was 94.8 per cent.

Meanwhile, Hotel Grand Lisboa generated gross revenue of HK$3.8bn (US$487m): gross gaming revenue of HK$3.66bn (US$469m) and non-gaming revenue of HK$140m (US$18m). Adjusted property EBITDA was HK$1.01bn (US$129.5m). The occupancy rate was 98.5 per cent.

Daisy Ho, co-chairman and executive director of SJM Holdings said: “Throughout the first half of 2024, the Group made significant progress in both gaming and non-gaming sectors, achieving steady growth through continuous innovation and service optimisation.

“Moving into the latter part of the year, we will intensify our efforts to broaden our food and beverage portfolio, launching a variety of new destination dining outlets and exclusive gastronomic events, alongside advancing the initial phase of the Kam Pek Market revitalization plan.

“Furthermore, we will be hosting various branded sporting competitions, in the realms of wushu, golf, and tennis. Our commitment to elevating the Lisboa brand’s international profile continues unabated as we strive to extend Macau’s influence in global markets.”