{"id":19376,"date":"2021-06-24T15:43:23","date_gmt":"2021-06-24T15:43:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19376"},"modified":"2026-04-23T18:15:09","modified_gmt":"2026-04-23T21:15:09","slug":"sociedade-de-jogos-de-macau-to-officially-become-sjm-resorts","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sociedade-de-jogos-de-macau-to-officially-become-sjm-resorts","title":{"rendered":"Sociedade de Jogos de Macau to officially become SJM Resorts"},"content":{"rendered":"\n

The casino operator has announced it is changing its company name to better reflect its “prominent position in tourism and leisure.”<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Sociedade de Jogos de Macau S.A.<\/strong>\u00a0has announced that it is changing its name to SJM Resorts S.A<\/strong>.\u00a0<\/p>\n\n\n\n

Daisy Ho, chairman and executive director of SJM Holdings Limited, said: \u201cThe new name better reflects our\u00a0prominent position in the tourism and leisure business<\/strong>.<\/p>\n\n\n\n

“It also reveals our dedication to the development and operation of integrated resorts in Macau, further underscoring our continued support to Macau\u2019s role<\/strong> as a \u2018world centre of tourism and leisure.\u201d<\/p>\n\n\n\n

The company will soon open its\u00a0Grand Lisboa Palace integrated resort<\/a>, although it hasn’t given an exact date for the opening, which has been delayed several times due to the Covid-19 pandemic.<\/p>\n\n\n\n

The company plans to open just one of its three hotels initially<\/strong>, with limited retail options. It will also open with 260 mass tables <\/strong>while the remaining 44 VIP tables will be launched in 2022, after the opening of the Versace-branded hotel. <\/p>\n\n\n\n

Grand Lisboa Palace <\/strong>involved an investment of HKD39bn (US$5bn). When complete, it will have around 2,000 hotel rooms<\/strong> split between three venues: The Lisboa Palace Hotel, Palazzo Versace Macau, and Karl Lagerfeld Hotel luxury boutique hotel.<\/p>\n\n\n\n

It includes 27,000 square metres of gaming floor space (290,000 sq ft) for up to 700 gaming tables and 1,200 electronic gaming machines.<\/p>\n\n\n\n

SJM Holdings reports US$83.3m in losses during the first quarter of this year<\/strong><\/h2>\n\n\n\n

In its financial results<\/a> for the first quarter of the year, SJM reported that net revenue was\u00a0down by 29 per cent\u00a0<\/strong>year-on-year to HK$2.4bn (US$312.9m).<\/p>\n\n\n\n

Adjusted EBITDA came in at HK$319 m (US$41.1m) <\/strong>while net losses reached HK$647m (US$83.3m), mainly due to the Grand Lisboa Palace construction.<\/p>\n\n\n\n

SJM <\/strong>reported\u00a0revenue of HK$485m (US$62.4m) from the VIP sector<\/strong>, down 59.4 per cent, and\u00a0HK$2bn (US$263.9m) from the mass market<\/strong>, down 21.3 per cent.<\/p>\n\n\n\n

Slot machine gross gaming revenue<\/strong>\u00a0in the first quarter\u00a0decreased by 17.3 per cent\u00a0<\/strong>when compared to the prior-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"

The casino operator has announced it is changing its company name to better reflect its “prominent position in tourism and leisure.”<\/p>\n","protected":false},"author":176,"featured_media":19388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM is rebranding to SJM Resorts S.A. to better reflect its strategic focus on integrated resorts and tourism in Macau. The company is preparing for the phased opening of its HKD39bn Grand Lisboa Palace, which has faced delays. This strategic shift occurs amidst Q1 financial results reporting substantial net losses, primarily due to Grand Lisboa Palace construction, alongside declines in net revenue and key gaming verticals.","focusai_entities":"Sociedade de Jogos de Macau S.A., SJM Resorts S.A., SJM Holdings Limited, Daisy Ho, Grand Lisboa Palace, Versace, Karl Lagerfeld","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SJM Rebranding Impact","query":"What are the long-term strategic implications of SJM's rebranding to SJM Resorts S.A. for its market share and competitive positioning within Macau's integrated resort landscape, particularly given the substantial capital outlay for Grand Lisboa Palace?"},{"label":"Grand Lisboa Palace ROI","query":"How will the phased opening and initial operational ramp-up of Grand Lisboa Palace impact SJM's NGR and EBITDA margins in the coming quarters, considering the significant Q1 losses attributed to its construction and the current market dynamics in Macau's VIP and mass gaming verticals?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906,23108],"class_list":["post-19376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19376"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19376\/revisions"}],"predecessor-version":[{"id":19406,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19376\/revisions\/19406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19388"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}