The casino operator has reported gross gambling revenue of HK$3.89bn (US$496m) for the first quarter of the year.<\/p>\n\n\n\n\n\n\n\n
Macau.- SJM Holdings <\/strong>has shared its financial results for the first three months of the year, posting a loss of HK$869m (US$110.9m). That compares with a loss of HK$1.28bn in the same quarter last year<\/a>. Gross gambling revenue for the quarter grew 53 per cent year-on-year to HK$3.89bn (US$496m). <\/p>\n\n\n\n Net gaming revenue was up 57.7 per cent year-on-year from HK$2.36bn to HK3.7bn (US$472.6m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at HK$31m, compared with a negative figure of HK$474m in the same period last year.<\/p>\n\n\n\n The group’s net revenue for the three months to March 31 increased by 57.6 per cent<\/strong> year-on-year to HK$4bn. Mass market GGR grew by 67 per cent to HK$3.44bn (US$439m), while slots GGR grew by 81.3 per cent to HK$252m (US$32.1m). VIP GGR decreased by 41.6 per cent to HK$201m (US$25.6m).<\/p>\n\n\n\n Grand Lisboa Palace generated gross revenue of HK$474m, with gross gaming revenue of HK$310m and non-gaming revenue of HK$164m, compared with HK$156m and HK$115m in 2022. Adjusted property EBITDA4 was negative HK$230m.<\/p>\n\n\n\n Meanwhile, Hotel Grand Lisboa generated gross revenue of HK$992m: gross gaming revenue of HK$928m and non-gaming revenue of HK$64m. Those figures compare with HK$551m and HK$41m in 2022. Adjusted property EBITDA was HK$156m.<\/p>\n\n\n\n In 2022, the company posted net gaming revenue<\/a> of HK$6.1bn (US$780m), down by 36 per cent compared to a year earlier<\/a>. The group\u2019s EBITDA was negative HK$3.1m (US$394.3m), compared with negative HK$1.58m for 2021.<\/p>\n","protected":false},"excerpt":{"rendered":" The casino operator has reported gross gambling revenue of HK$3.89bn (US$496m) for the first quarter of the year.<\/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 reported a Q1 net loss of HK$869m, an improvement from the prior year, driven by significant year-on-year growth in GGR and NGR. Mass market and slots GGR demonstrated robust recovery, while VIP GGR continued its decline, reflecting ongoing market shifts in Macau. Adjusted EBITDA turned positive, indicating improving operational leverage.","focusai_entities":"SJM Holdings, Grand Lisboa Palace, Hotel Grand Lisboa","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.85), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q1 Performance Drivers","query":"Given the significant growth in mass market and slots GGR juxtaposed with declining VIP GGR, what specific operational strategies is SJM Holdings implementing to further capitalize on the mass market recovery and mitigate the VIP segment's contraction?"},{"label":"Capital Allocation Strategy","query":"With Grand Lisboa Palace still reporting negative adjusted property EBITDA despite revenue growth, what is the projected timeline for achieving positive EBITDA at this asset, and how will capital allocation priorities shift between Grand Lisboa Palace and Hotel Grand Lisboa to optimize group profitability?"}],"footnotes":""},"categories":[16338,163],"tags":[23108],"class_list":["post-777005251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005251","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=777005251"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005251\/revisions"}],"predecessor-version":[{"id":777005302,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005251\/revisions\/777005302"}],"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=777005251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}