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SJM reports a sharp rise in revenue for the first half of the year

Revenues are up by almost 40 percent for the casino operator, with losses shrinking to HK$162 million from HK$1,264 in the same period last year
  • SJM says it has a 12.5 percent share of Macao’s GGR, with a 15.2 percent share in mass market GGR

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PUBLISHED

SJM Holdings has reported net gaming revenue of HK$12,897 million in the first half of 2024, as compared with HK$8,695 million in the first half of 2023.

In a regulatory filing, the casino operator said that its adjusted earnings before interest, taxes, depreciation and amortisation was HK$1,734 million over the period, as compared with HK$461 million in the first six months of 2023.

The loss attributable to owners of the company was HK$162 million, SJM said, sharply down from the loss of HK$1,264 million reported in the same period last year.

[See more: SJM is set to undergo a ‘renaissance’ say analysts]

In its filing, SJM said that it had a 12.5 percent share of Macao’s gross gaming revenue (GGR), including 15.2 percent of mass market table GGR and 4.4 percent of VIP GGR.

Gross revenue at the company’s Grand Lisboa Palace resort was HK$2,956 million, including gross gaming revenue of HK$2,325 million and non-gaming revenue of HK$631 million, both up from HK$1,034 million and HK$396 million respectively in the first half of 2023.

Meanwhile, at its Grand Lisboa property, gross revenue was HK$3,800 million, including gross gaming revenue of HK$3,660 million and non-gaming revenue of HK$140 million, compared to HK$2,266 million and non-gaming revenue of HK$137 million respectively in the same period last year.

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