could cause some satellite casino owners to withdraw from the market<\/a>, leading to job losses.<\/p>\n\n\n\nSJM Holdings GGR down 4.2% in Q1<\/h2>\n\n\n\n
SJM Holdings has posted a loss of HK$1.28bn (US$163.4m) <\/strong>for the first quarter of the year. That compares with a loss of HK$647m in the same quarter last year. Gross gambling revenue for the quarter fell 4.2 per cent year-on-year to HK$2.54bn. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at negative HK$474m.<\/p>\n\n\n\nIn the first three months of the year, SJM\u2019s VIP gaming revenue was HK$344m, down 29.1 per cent year-on-year<\/strong>. Gross gaming revenue for the mass market was just under HK$2.06bn, up 0.3 per cent year-on-year. Slot machine GGR totalled HK$139m, an increase of 19.5 per cent year-on-year.<\/p>\n","protected":false},"excerpt":{"rendered":"SJM Holdings has said that workers affected by the closure of satellite casinos linked to the company will not be left without work.<\/p>\n","protected":false},"author":176,"featured_media":25400,"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 has committed to retaining employees affected by the closure of satellite casinos operating under its license in Macau, despite the challenging business environment exacerbated by the Covid-19 pandemic. This commitment follows the recent closure of Emperor Entertainment Hotel's casino and aligns with the Macau Gambling Law Amendment, which aims to mitigate job losses. Concurrently, SJM reported a significant Q1 loss of HK$1.28bn, with GGR declining 4.2% year-on-year.","focusai_entities":"SJM Holdings, Angela Leong On Kei, Galaxy Entertainment Group, GEG, Melco Resorts and Entertainment Ltd, Emperor Entertainment Hotel Limited, Macau\u2019s Labor Affairs Bureau, DSAL","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SJM's Labor Strategy","query":"What specific mechanisms or programs is SJM Holdings implementing to absorb and re-deploy employees from closing satellite casinos, and what is the projected cost impact on its operational expenditures?"},{"label":"Satellite Casino Viability","query":"How does the amended Macau Gambling Law truly impact the long-term commercial viability and operational models for remaining satellite casinos, especially given the current GGR trends and market pressures?"}],"footnotes":""},"categories":[157,16338],"tags":[23108],"class_list":["post-30086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30086","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=30086"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30086\/revisions"}],"predecessor-version":[{"id":30096,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30086\/revisions\/30096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25400"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}