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SJM losses hit HK$4.1 billion in 2021

Gaming concessionaire reports mixed results for the year when it opened its new trophy property, Grand Lisboa Palace.

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Gaming concessionaire reports mixed results for the year when it opened its new trophy property, Grand Lisboa Palace.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

Hong Kong-listed gaming resort operator SJM Holdings has reported that its net gaming revenue reached HK$9.6 billion last year, a year-on-year growth of 31.5 per cent. 

The company’s hotel, catering, retail and other income increased by 64.7 per cent to HK$592 million. 

Adjusted EBITDA was negative HK$1.58 billion, as compared with negative HK$2.09 billion in 2020. 

Loss attributable to the owners of the company amounted to HK$4.1 billion last year. In 2020, the loss stood at HK$3.0 billion. 

SJM estimated that it had a 12.3 per cent share of Macao’s gross gaming revenue among the city’s six gaming operators – 16.3 per cent of mass market table gaming revenue and 4.9 per cent of VIP gaming revenue. 

The company’s total investment in its Grand Lisboa Palace resort in Cotai was HK$38.2 billion. The deluxe resort opened its doors to the public on 30 July 2021. 

SJM Holdings Vice-Chairman and CEO Ambrose So Shu Fai commented that “during 2021 SJM achieved annual increases in business volumes, although subject to the challenges of the pandemic for the full year.” 

 

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