{"id":777020677,"date":"2024-11-13T09:43:40","date_gmt":"2024-11-13T12:43:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020677"},"modified":"2026-04-22T04:16:08","modified_gmt":"2026-04-22T07:16:08","slug":"macau-casinos-sjm-posts-net-profit-of-us13m-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-casinos-sjm-posts-net-profit-of-us13m-for-q3","title":{"rendered":"Macau casinos: SJM posts net profit of US$13m for Q3"},"content":{"rendered":"\n

The profit compares to a net loss of HK$410m in the same quarter last year.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0SJM Holdings\u00a0<\/strong>has shared its financial results for the third quarter of the year. The company posted a profit attributable to owners of HK$101m (US$13m). That compares with a loss of HK$410m (US$52.78m) a year earlier.<\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at HK$1.04bn (US$133m), compared with HK$566m (US$73m) in the same period last year. That’s a rise of 83 per cent in year-on-year terms.<\/p>\n\n\n\n

Net revenue was HK$7.5bn (US$965.35m), a rise of 27.8 per cent. Net gaming revenue was\u00a0up 29 per cent year-on-year\u00a0to HK$6.99bn (US$899m). Gross gaming revenue (GGR) was up 30.8 per cent year-on-year and 8.7 per cent sequentially at HK$7.4bn (US$951.14m). The GGR for self-promoted casinos rose by 38 per cent year-on-year to HK$4.7bn (US$603.47m).<\/p>\n\n\n\n

SJM’s market share of GGR rose from 12.1 to 13.9 per cent. The company attributed the growth to the performance of Grand Lisboa Palace Resort Macau.<\/p>\n\n\n\n

See also:<\/strong> SJM announces first tender results for Kam Pek Market food stalls<\/a><\/p>\n\n\n\n

Grand Lisboa Palace<\/strong> generated gross revenue of HK$1.7bn (US$228m), with GGR of HK$1.4bn (US$183m) and non-gaming revenue of HK$354m (US$45.5m). Adjusted property EBITDA was HK$165m (US$21m), compared with negative HK$27m (US$3.5m) in the third quarter of 2023. The occupancy rate was 98.9 per cent (85.4 per cent in the third quarter of 2023).<\/p>\n\n\n\n

For the first nine months of the year, Grand Lisboa Palace achieved gross revenue of HK$4.7bn ($608m), with HK$3.75bn (US$482m) from gaming and HK$985m (US$127m) from non-gaming.<\/p>\n\n\n\n

Hotel Grand Lisboa\u00a0<\/strong>generated a gross revenue of HK$2bn (US$257m). GGR reached HK$1.9bn (US$249m) and non-gaming revenue HK$74m (US$9.4m). Adjusted property EBITDA was HK$545m (US$69.5m), up from HK$373m (US$47.6m) a year earlier. The hotel\u2019s occupancy rate reached 98.9 per cent (98.4 per cent in the third quarter of 2023).<\/p>\n\n\n\n

Cumulatively, Grand Lisboa’s gross revenue amounted to HK$5.8bn (US$740m) in the first nine months of the year, with HK$5.6bn (US$715m) from gaming and HK$214m (US$27.3m) from non-gaming.<\/p>\n\n\n\n

Daisy Ho<\/strong>, chairman of SJM Holdings Limited and managing director of SJM Resorts, said: “It gives me pleasure to report the unfolding potential of the Grand Lisboa Palace Resort, with its ramp-up underlining the Group\u2019s strong turnaround from challenging times to renewed growth.<\/p>\n\n\n\n

“In the coming quarters, SJM will launch a series of key visitation drivers to strategically enhance our offer mix, including a diversified pipeline of dining options, increased MICE capacity at Grand Lisboa Palace, and a 10 per cent expansion in hotel capacity at Grand Lisboa. With continued quarter-on-quarter and year-on-year growth in GGR, I am confident that our investments in both people and properties will yield sustained, long-term value.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The profit compares to a net loss of HK$410m in the same quarter last year.<\/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 reported a significant financial turnaround in Q3, posting a net profit of HK$101m compared to a loss last year, driven by an 83% increase in Adjusted EBITDA and robust GGR growth of 30.8%. The company's market share expanded to 13.9%, primarily attributed to the strong performance and ramp-up of Grand Lisboa Palace Resort Macau. SJM plans further strategic investments in MICE, dining, and hotel capacity to sustain long-term value.","focusai_entities":"SJM Holdings Limited, SJM Resorts, Daisy Ho, Grand Lisboa Palace Resort Macau, Hotel Grand Lisboa","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"SJM's GGR Sustainability?","query":"What specific market segment shifts (e.g., VIP vs. mass market) contributed to SJM's GGR growth, and how sustainable is the 13.9% market share given competitive landscape and new property ramp-ups?"},{"label":"Grand Lisboa Palace ROI?","query":"What is the projected return on investment timeline for the Grand Lisboa Palace Resort Macau, considering its current ramp-up phase and the planned MICE and dining enhancements?"}],"footnotes":""},"categories":[16338,163],"tags":[23108],"class_list":["post-777020677","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\/777020677","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=777020677"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020677\/revisions"}],"predecessor-version":[{"id":777020701,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020677\/revisions\/777020701"}],"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=777020677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}