{"id":32506,"date":"2022-08-10T03:16:30","date_gmt":"2022-08-10T06:16:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=32506"},"modified":"2026-04-23T06:03:59","modified_gmt":"2026-04-23T09:03:59","slug":"sjm-resorts-to-increase-share-capital-to-us618-4m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-resorts-to-increase-share-capital-to-us618-4m","title":{"rendered":"SJM Resorts to increase share capital to US$618.4m"},"content":{"rendered":"\n

The company will increase its share capital to be able to qualify for Macau’s new gaming concession tender.<\/p>\n\n\n\n\n\n\n\n

Macau.- With Macau casino operators working on their proposals for the upcoming\u00a0gaming concession retender<\/a>, SJM Resorts<\/strong> has announced that it has increased its share capital by nearly 1,567 per cent, to MOP5.0bn (US$618.4m) to be able to qualify.<\/p>\n\n\n\n

Casino operators must have a registered capital of at least MOP5bn while their licences are valid.\u00a0SJM Holdings’ parent company also said that it would increase its “Class B” stake from 10 per cent to 15 per cent of SJM Resorts’ issued share capital as Macau’s revised gaming law requires at least 15 per cent of gaming concessionaires’ share capital to be held by “managers” who are permanent residents of Macau.<\/p>\n\n\n\n

Currently,\u00a0SJM Resorts has a registered capital of MOP300m<\/strong>, consisting of 2,700,000 Class A shares (90 per cent of the issued share capital) and 300,000 Class B shares (10 per cent) of MOP100 each.<\/p>\n\n\n\n

In accordance with the applicable law, the new Class B shares will be issued to the managing director of SJM Resorts at par payable in cash in order to maintain that director’s shareholding in SJM Resorts.<\/p>\n\n\n\n

SJM Holdings Limited<\/a>\u00a0recently announced through a company filing that Sociedade de Turismo e Divers\u00f5es de Macau, S.A. (STDM), its controlling shareholder, had agreed to extend an unsecured term loan of HK$2bn (US$254.8m). The loan is\u00a0for a fixed period of six years<\/strong>\u00a0from the date of drawdown with interest at 4 per cent per annum.<\/p>\n\n\n\n

Analysts at Moody\u2019s Investors Service said the loan will help the casino operator cope with any cash burn<\/strong> for at least the next 18 months. The rating agency estimated that by the end of September, SJM\u2019s sources of liquidity would have increased by at least 45 per cent from the end of June.<\/p>\n\n\n\n

In currency terms, this would be between HK$9bn and HK$9.5bn, including about HK$4bn available for withdrawals under the revolving credit facility, compared with HK$6.2bn of liquidity at the end of June.<\/p>\n\n\n\n

It said: \u201cThe around HK$3bn in additional equity will boost SJM Holdings\u2019 financial buffer by trimming its reliance on debt to cover its cash burn.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will increase its share capital to be able to qualify for Macau’s new gaming concession tender.<\/p>\n","protected":false},"author":176,"featured_media":17520,"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 has significantly increased its share capital to MOP5.0bn and adjusted its Class B shareholding to 15% to comply with Macau's revised gaming law requirements for the upcoming concession tender. Concurrently, parent company SJM Holdings secured a HK$2bn unsecured term loan from STDM, bolstering its liquidity by an estimated 45% to navigate potential cash burn over the next 18 months, as noted by Moody's Investors Service.","focusai_entities":"SJM Resorts, SJM Holdings, Sociedade de Turismo e Divers\u00f5es de Macau, S.A. (STDM), Moody\u2019s Investors Service","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Tender Impact","query":"How might SJM Resorts' capital restructuring and increased local ownership influence the competitive landscape and the Macau government's concession allocation decisions for other operators?"},{"label":"Liquidity & Debt Strategy","query":"What are the long-term implications of SJM Holdings' HK$2bn unsecured term loan on its debt-to-equity ratio and future capital expenditure plans beyond the immediate 18-month liquidity buffer?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23108],"class_list":["post-32506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32506","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=32506"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32506\/revisions"}],"predecessor-version":[{"id":32532,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32506\/revisions\/32532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17520"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}