{"id":29195,"date":"2022-04-22T07:31:52","date_gmt":"2022-04-22T10:31:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29195"},"modified":"2026-04-23T09:23:27","modified_gmt":"2026-04-23T12:23:27","slug":"sjm-chairman-confident-about-next-concession-period-in-macau","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-chairman-confident-about-next-concession-period-in-macau","title":{"rendered":"SJM chairman confident about next concession period in Macau"},"content":{"rendered":"\n

Daisy Ho Chiu Fung, chairman of SJM Holdings, says the company has been preparing for the tender process and is confident it will continue operating in Macau.<\/p>\n\n\n\n\n\n\n\n

Macau.- Daisy Ho Chiu Fung, chairman of SJM Holdings<\/strong>, has voiced confidence in the company securing a new concession in Macau\u2019s upcoming retender.<\/p>\n\n\n\n

Delivering SJM’s annual report, Fung said: “As of this date, the final terms and conditions of the next concessions have not entirely been determined, but\u00a0we know that there will be up to six,<\/a>\u00a0ten-year concessions, accompanied by important regulatory changes and certain changes in the structure of the concessionaire and its assets.”<\/p>\n\n\n\n

She added: \u201cSince the draft revised gaming law was presented by the Macau government in September,\u00a0we have been preparing for the tender process\u00a0<\/strong>and confidently looking forward to our continued\u2026 presence in Macau.\u201d<\/p>\n\n\n\n

Macau casino licences were\u00a0due to expire in June 2022<\/strong>, but a tender process for renewal has yet to be held due to delays in changes to Macau\u2019s gaming legislation. As a result, Macau has decided to grant extensions on the current casino licences\u00a0until December 31<\/a>. All six of Macau’s casino operators have applied<\/a>\u00a0for the extensions.<\/p>\n\n\n\n

SJM Holdings reports net loss of US$530.3m for 2021<\/h2>\n\n\n\n

SJM Holdings <\/strong>has reported a full-year loss of HKD4.14bn (US$530.3m) for 2021, compared with a loss of HKD3.03bn for 2020. It blamed ongoing disruptions to tourism due to the Covid-19 pandemic.<\/p>\n\n\n\n

Net gaming revenue in 2021 increased by 31.5 per cent year-on-year to nearly HKD9.61bn. The group\u2019s EBITDA loss narrowed by 24.3 per cent to HKD1.58bn. Grand Lisboa Palace<\/a> saw gross revenue of HKD370m, including HKD200m in gross gaming revenue (GGR). <\/p>\n\n\n\n

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) was a negative HKD423m after adjusting for pre-opening expenses of nearly HKD1.03bn.<\/p>\n\n\n\n

SJM revealed it accounted for 12.3 per cent of Macau\u2019s gross gaming revenue in 2021, including 16.3 per cent of mass-market table gaming revenue and 4.9 per cent of VIP gaming revenue. Company-wide gross gaming revenue in 2021 increased by 25.3 per cent <\/strong>year-on-year to HKD10.37bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Daisy Ho Chiu Fung, chairman of SJM Holdings, says the company has been preparing for the tender process and is confident it will continue operating in Macau.<\/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 Holdings' Chairman, Daisy Ho Chiu Fung, expressed confidence in securing a new 10-year Macau gaming concession despite impending regulatory changes and structural adjustments. The company reported a US$530.3m net loss for 2021, attributed to pandemic disruptions, though net gaming revenue and GGR saw year-on-year increases.","focusai_entities":"SJM Holdings, Daisy Ho Chiu Fung","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Concession Structure Impact","query":"What specific structural and regulatory changes are anticipated to impact SJM Holdings' operational governance and asset ownership under the new Macau gaming concessions?"},{"label":"Post-Pandemic GGR Strategy","query":"How does SJM Holdings plan to leverage its mass-market GGR strength and address VIP segment challenges to improve overall profitability post-concession renewal amidst evolving market dynamics?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,23108],"class_list":["post-29195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29195","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=29195"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29195\/revisions"}],"predecessor-version":[{"id":29199,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29195\/revisions\/29199"}],"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=29195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}