{"id":20429,"date":"2021-07-19T16:20:28","date_gmt":"2021-07-19T16:20:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=20429"},"modified":"2026-04-23T17:28:40","modified_gmt":"2026-04-23T20:28:40","slug":"sjm-to-take-over-management-of-diamond-casino-due-to-covid-19-losses","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-to-take-over-management-of-diamond-casino-due-to-covid-19-losses","title":{"rendered":"SJM to take over management of Diamond Casino due to Covid-19 losses"},"content":{"rendered":"\n

Due to losses caused by the Covid-19 pandemic, SJM Resorts has decided to take over the management of the Diamond Casino.<\/p>\n\n\n\n\n\n\n\n

Macau.- SJM Resorts S.A. <\/strong>has announced that it will manage the Diamond Casino at the Holliday Inn Hotel.<\/p>\n\n\n\n

According to Allin Media, the casino has reported no income for 18 months <\/strong>and operations were to cease on July 31.<\/p>\n\n\n\n

The Diamond Casino is one of SJM’s satellite casinos<\/strong>. It holds 28 gaming tables and 48 slot machines, plus VIP rooms.<\/p>\n\n\n\n

Sociedade de Jogos de Macau S.A.<\/strong> has recently changed its official name to SJM Resorts S.A<\/a>. <\/p>\n\n\n\n

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

The company is due to open its Grand Lisboa Palace integrated resort<\/a>, although it hasn\u2019t 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

In its financial results<\/a> for the first quarter of the year, SJM reported that net revenue was down by 29 per cent <\/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","protected":false},"excerpt":{"rendered":"

Due to losses caused by the Covid-19 pandemic, SJM Resorts has decided to take over the management of the Diamond Casino.<\/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 Resorts S.A. has assumed direct management of the Diamond Casino, a satellite property, following 18 months of reported operational losses exacerbated by the Covid-19 pandemic. This strategic consolidation occurs as SJM prepares for the delayed, phased launch of its Grand Lisboa Palace integrated resort, amidst significant Q1 net revenue declines and net losses.","focusai_entities":"SJM Resorts S.A., Diamond Casino, Holliday Inn Hotel, Allin Media, Sociedade de Jogos de Macau S.A., Daisy Ho, Grand Lisboa Palace, Versace","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SJM's Capital Allocation?","query":"How will SJM Resorts' capital allocation strategy for the Grand Lisboa Palace evolve given the current financial performance and the Diamond Casino operational takeover, particularly regarding future VIP table deployment?"},{"label":"Macau Market Consolidation?","query":"What are the broader implications for Macau's gaming market structure and the satellite casino model following SJM's direct management of the Diamond Casino, and how might this impact other concessionaires?"}],"footnotes":""},"categories":[28,16338],"tags":[23108],"class_list":["post-20429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20429","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=20429"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20429\/revisions"}],"predecessor-version":[{"id":20458,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/20429\/revisions\/20458"}],"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=20429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=20429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=20429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}