SJM Holdings<\/a>\u00a0and other operators have attended a public consultation session and asked for more information on the government\u2019s proposed changes to the city\u2019s gaming laws.<\/p>\n\n\n\nCasino operators also said the government should give more details on the proposal that gaming concessionaires should be part held by a Macau resident.<\/p>\n\n\n\n
Buddy Lam Chi Seng, Galaxy Entertainment senior vice president of public relations<\/strong>, asked if the possibility of electing \u201cdelegates\u201d to Macau\u2019s gaming concessions <\/strong>to have a \u201cgreater checking\u201d limit on the activity of the gaming firms could have a potential impact on gaming firms\u2019 daily operations.<\/p>\n\n\n\nKu Mei Leng, chief-of-office of Macau\u2019s Secretary for Economy and Finance<\/strong>, answered that the public authority didn\u2019t have any \u201cpredetermined positions\u201d on the themes, as it was still collecting opinions from the industry regarding the proposed changes.<\/p>\n\n\n\nHe noted that a delegate system is already used to monitor other forms of public concession. According to previous reports, government delegates would be sent to gaming concessionaires <\/strong>to enable the direct monitoring of daily operations.<\/p>\n\n\n\nSJM Holdings posts US$188.5m net loss for H1<\/h2>\n\n\n\n
The company reported that revenue in the first six months<\/strong> of the year was up 19 per cent <\/strong>year-on-year to HKD5.22bn.<\/p>\n\n\n\nAdjusted EBITDA<\/strong> came in at HKD510m in the second quarter with a negative margin of 9.8 per cent, compared with a negative 22.5 per cent from the previous year period<\/strong>, <\/strong>while net losses reached HKD1.47bn (US$ 188.5m).<\/p>\n\n\n\nThe company said that despite the Covid-19 pandemic, \u201ccertain results showed improvement <\/strong>in comparison with the first half of 2020.\u201d<\/p>\n\n\n\nNet gaming revenue was up 18.8 per cent year-on-year<\/strong> to HKD5.08bn while mass-market table GGR was up 33.2 per cent to HKD4.39bn. VIP gross revenue<\/strong> for the first half stood at HKD855.6m, down 37.5 per cent, while revenue from slot machines was up 12.7 per cent year-on-year to HKD264.6m.<\/p>\n","protected":false},"excerpt":{"rendered":"SJM Holdings has said it expects that Macau’s gaming concessions will be extended beyond June 26, 2022, for around ten years.<\/p>\n","protected":false},"author":176,"featured_media":22886,"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 Holdings anticipates Macau's gaming concessions will be extended for approximately ten years beyond June 26, 2022, a duration longer than five but shorter than twenty years. This expectation comes amidst ongoing public consultations regarding proposed changes to gaming laws, including requirements for local resident ownership and the potential implementation of a 'delegate' system for direct operational monitoring. Concurrently, SJM Holdings reported a net loss of US$188.5m for H1, despite an 18.8% increase in net gaming revenue.","focusai_entities":"SJM Holdings, Goldman Sachs, Buddy Lam Chi Seng, Galaxy Entertainment, Ku Mei Leng, Macau's Secretary for Economy and Finance","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Terms Impact","query":"How might the proposed 10-year concession extension, rather than the previous 20-year term, influence long-term capital expenditure planning and ROI projections for Macau's integrated resort operators?"},{"label":"Governance Framework Implications","query":"What specific operational and governance challenges could arise from the implementation of a 'delegate' system for direct monitoring of gaming concessionaires, particularly concerning commercial autonomy and data privacy?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23907,23906,23108],"class_list":["post-22865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-land-based-casino","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22865","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=22865"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22865\/revisions"}],"predecessor-version":[{"id":22880,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22865\/revisions\/22880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22886"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}